MBX Biosciences (NASDAQ:MBX) Earns Buy Rating from Analysts at TD Cowen

TD Cowen started coverage on shares of MBX Biosciences (NASDAQ:MBX) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating on the stock.

MBX has been the subject of a number of other research reports. Truist Financial initiated coverage on MBX Biosciences in a research report on Wednesday, October 15th. They set a “buy” rating and a $50.00 price target for the company. Oppenheimer began coverage on MBX Biosciences in a research report on Wednesday, July 16th. They set an “outperform” rating and a $38.00 price target for the company. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a report on Monday, September 22nd. Wall Street Zen upgraded MBX Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Mizuho upped their price objective on MBX Biosciences from $38.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, September 24th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MBX Biosciences currently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

MBX Biosciences Stock Down 6.1%

Shares of MBX stock opened at $20.61 on Tuesday. MBX Biosciences has a 1 year low of $4.81 and a 1 year high of $27.50. The stock’s fifty day simple moving average is $15.13. The firm has a market cap of $692.29 million, a price-to-earnings ratio of -4.54 and a beta of 1.19.

Insider Activity

In related news, Director Steven L. Hoerter bought 20,000 shares of MBX Biosciences stock in a transaction dated Friday, October 17th. The stock was acquired at an average cost of $13.25 per share, with a total value of $265,000.00. Following the completion of the acquisition, the director directly owned 20,000 shares in the company, valued at approximately $265,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO P. Kent Hawryluk bought 20,000 shares of MBX Biosciences stock in a transaction dated Monday, October 20th. The shares were bought at an average cost of $13.64 per share, with a total value of $272,800.00. Following the completion of the acquisition, the chief executive officer owned 468,277 shares of the company’s stock, valued at $6,387,298.28. The trade was a 4.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 706,666 shares of company stock valued at $12,537,788 over the last three months.

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds have recently modified their holdings of the stock. Virtus Investment Advisers LLC lifted its holdings in shares of MBX Biosciences by 9.6% during the second quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock valued at $100,000 after purchasing an additional 766 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of MBX Biosciences by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company’s stock valued at $698,000 after purchasing an additional 1,235 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after purchasing an additional 2,682 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of MBX Biosciences by 33.0% during the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company’s stock valued at $163,000 after purchasing an additional 3,543 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in MBX Biosciences during the first quarter valued at $32,000.

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.