MBX Biosciences (NASDAQ:MBX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of MBX Biosciences (NASDAQ:MBX) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

A number of other analysts have also recently issued reports on MBX. Citizens Jmp lifted their target price on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Stifel Nicolaus set a $56.00 price target on shares of MBX Biosciences in a research note on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Barclays reaffirmed an “overweight” rating and issued a $88.00 price objective on shares of MBX Biosciences in a research note on Friday. Finally, UBS Group reiterated a “buy” rating and issued a $90.00 price objective on shares of MBX Biosciences in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.62.

MBX Biosciences Price Performance

MBX opened at $66.15 on Friday. MBX Biosciences has a fifty-two week low of $9.63 and a fifty-two week high of $72.64. The business has a 50-day moving average of $52.91 and a 200-day moving average of $40.19. The company has a market capitalization of $3.19 billion, a PE ratio of -27.45 and a beta of 0.09.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, equities research analysts expect that MBX Biosciences will post -2.88 earnings per share for the current fiscal year.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of MBX. GF Fund Management CO. LTD. bought a new stake in shares of MBX Biosciences during the 4th quarter worth $28,000. State of Wyoming acquired a new position in MBX Biosciences during the 2nd quarter worth $58,000. Russell Investments Group Ltd. lifted its position in MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,446 shares during the last quarter. Royal Bank of Canada boosted its holdings in MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the period. Finally, Strs Ohio grew its position in shares of MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after purchasing an additional 900 shares during the last quarter.

About MBX Biosciences

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.