MBX Biosciences (NASDAQ:MBX) Rating Increased to Strong-Buy at Lifesci Capital

Lifesci Capital upgraded shares of MBX Biosciences (NASDAQ:MBX) to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also commented on the stock. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Stifel Nicolaus boosted their target price on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, The Goldman Sachs Group started coverage on shares of MBX Biosciences in a report on Thursday, December 4th. They set a “sell” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, MBX Biosciences presently has a consensus rating of “Moderate Buy” and an average target price of $51.56.

MBX Biosciences Stock Performance

Shares of NASDAQ MBX opened at $32.29 on Tuesday. The business’s 50-day simple moving average is $33.60 and its 200-day simple moving average is $28.08. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $44.89. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of -13.40 and a beta of 1.25.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.15.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk purchased 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the acquisition, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. This represents a 3.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 52.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new position in MBX Biosciences during the 4th quarter valued at $28,000. Russell Investments Group Ltd. grew its position in MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the last quarter. Royal Bank of Canada grew its position in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of MBX Biosciences during the 3rd quarter worth about $27,000. Finally, California State Teachers Retirement System raised its position in shares of MBX Biosciences by 64.7% during the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after buying an additional 689 shares during the last quarter.

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.