MBX Biosciences, Inc. (NASDAQ:MBX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been assigned an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $77.00.

MBX has been the topic of several recent research reports. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a research report on Friday, August 21st. They issued an “overweight” rating and a $88.00 price target on the stock. Wall Street Zen downgraded MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Citizens Jmp increased their target price on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Mizuho upped their price target on MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th.

MBX Biosciences Price Performance

Shares of NASDAQ MBX opened at $66.39 on Friday. MBX Biosciences has a fifty-two week low of $9.63 and a fifty-two week high of $72.64. The firm has a market capitalization of $3.20 billion, a P/E ratio of -27.55 and a beta of 0.10. The company’s 50 day simple moving average is $61.40 and its 200 day simple moving average is $42.85.

MBX Biosciences (NASDAQ:MBX) last released its earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). Sell-side analysts expect that MBX Biosciences will post -3.11 EPS for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

Large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in MBX Biosciences in the second quarter worth $183,467,000. Wellington Management Group LLP grew its holdings in shares of MBX Biosciences by 112.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after buying an additional 2,556,708 shares during the period. California State Teachers Retirement System grew its holdings in shares of MBX Biosciences by 5,568.2% in the 2nd quarter. California State Teachers Retirement System now owns 1,290,355 shares of the company’s stock valued at $71,228,000 after buying an additional 1,267,590 shares during the period. Aaron Wealth Advisors LLC increased its position in shares of MBX Biosciences by 1,568.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock valued at $34,870,000 after buying an additional 1,098,176 shares in the last quarter. Finally, Braidwell LP acquired a new stake in MBX Biosciences during the 4th quarter worth $32,127,000.

MBX Biosciences Company Profile

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.