MBX Biosciences (NASDAQ:MBX) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of MBX Biosciences (NASDAQ:MBX) from a sell rating to a hold rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. Barclays assumed coverage on shares of MBX Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price target for the company. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Truist Financial set a $50.00 price objective on shares of MBX Biosciences in a research note on Monday, March 9th. Finally, Guggenheim raised their price objective on shares of MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.25.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock opened at $40.97 on Friday. The company has a 50-day moving average of $30.98 and a 200 day moving average of $31.04. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -18.54 and a beta of 0.78. MBX Biosciences has a 1 year low of $9.43 and a 1 year high of $44.89.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.15. On average, equities analysts anticipate that MBX Biosciences will post -2.9 EPS for the current year.

Insiders Place Their Bets

In other news, CEO P. Kent Hawryluk acquired 18,500 shares of MBX Biosciences stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the purchase, the chief executive officer owned 486,777 shares in the company, valued at $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 52.19% of the company’s stock.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP bought a new stake in MBX Biosciences during the 1st quarter valued at about $1,396,000. Swiss National Bank bought a new stake in MBX Biosciences during the 1st quarter valued at about $1,325,000. Bank of New York Mellon Corp boosted its holdings in shares of MBX Biosciences by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 80,222 shares of the company’s stock valued at $2,395,000 after acquiring an additional 4,960 shares during the last quarter. Candriam S.C.A. bought a new stake in shares of MBX Biosciences in the first quarter worth approximately $8,787,000. Finally, Strs Ohio grew its stake in shares of MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after acquiring an additional 900 shares during the period.

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.