MBX Biosciences (NASDAQ:MBX) Stock Price Up 8.5% on Analyst Upgrade

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) rose 8.5% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $57.00 to $91.00. Mizuho currently has an outperform rating on the stock. MBX Biosciences traded as high as $64.48 and last traded at $65.17. 237,808 shares were traded during trading, a decline of 66% from the average daily volume of 703,149 shares. The stock had previously closed at $60.06.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Barclays boosted their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $56.00 price target on MBX Biosciences in a research note on Tuesday, May 12th. Finally, Truist Financial upped their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, MBX Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.12.

Institutional Trading of MBX Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its position in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,446 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in MBX Biosciences during the 4th quarter worth about $28,000. Strs Ohio boosted its holdings in shares of MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares during the period. Royal Bank of Canada boosted its stake in shares of MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after buying an additional 572 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after purchasing an additional 1,567 shares in the last quarter.

MBX Biosciences Stock Performance

The company has a 50 day moving average of $46.60 and a 200 day moving average of $38.38. The firm has a market cap of $3.08 billion, a P/E ratio of -29.35 and a beta of 0.16.

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.