Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) Price Target at $60.22

by · The Cerbat Gem

Shares of MBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $60.2222.

A number of equities research analysts have recently issued reports on the company. Barclays boosted their price objective on MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Citizens Jmp boosted their price target on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday, April 21st.

View Our Latest Research Report on MBX

MBX Biosciences Stock Performance

Shares of MBX opened at $61.74 on Friday. MBX Biosciences has a 52 week low of $9.63 and a 52 week high of $64.32. The firm has a market cap of $2.94 billion, a P/E ratio of -27.94 and a beta of 0.16. The firm’s 50-day simple moving average is $38.97 and its 200 day simple moving average is $35.48.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its position in MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after acquiring an additional 2,556,708 shares during the period. Deep Track Capital LP grew its position in shares of MBX Biosciences by 43.9% during the 3rd quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after purchasing an additional 961,408 shares in the last quarter. Vanguard Group Inc. grew its position in shares of MBX Biosciences by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock worth $57,334,000 after purchasing an additional 140,449 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of MBX Biosciences by 164.2% during the third quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock worth $22,878,000 after purchasing an additional 812,436 shares during the period. Finally, MPM Bioimpact LLC raised its position in shares of MBX Biosciences by 14.3% in the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock valued at $14,769,000 after buying an additional 161,466 shares in the last quarter.

MBX Biosciences Company Profile

(Get Free Report)

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.

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