Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) Target Price at $44.00

by · The Cerbat Gem

MBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) has been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and seven have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $44.00.

Several brokerages have issued reports on MBX. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research report on Wednesday, October 8th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Monday, September 22nd. Mizuho raised their price objective on MBX Biosciences from $38.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Finally, Oppenheimer assumed coverage on MBX Biosciences in a research report on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 price objective for the company.

Read Our Latest Stock Report on MBX

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk acquired 20,000 shares of the stock in a transaction dated Monday, October 20th. The stock was purchased at an average price of $13.64 per share, with a total value of $272,800.00. Following the transaction, the chief executive officer directly owned 468,277 shares of the company’s stock, valued at $6,387,298.28. This trade represents a 4.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven L. Hoerter acquired 20,000 shares of the 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 transaction, the director directly owned 20,000 shares in the company, valued at approximately $265,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 706,666 shares of company stock valued at $12,537,788 in the last quarter. 52.19% of the stock is currently owned by corporate insiders.

Institutional Trading of MBX Biosciences

A number of institutional investors have recently made changes to their positions in the business. Aaron Wealth Advisors LLC acquired a new stake in MBX Biosciences during the 1st quarter worth about $369,000. New York State Common Retirement Fund acquired a new stake in MBX Biosciences during the 1st quarter worth about $32,000. TD Asset Management Inc lifted its position in MBX Biosciences by 313.9% during the 1st quarter. TD Asset Management Inc now owns 151,504 shares of the company’s stock worth $1,118,000 after acquiring an additional 114,904 shares during the period. Charles Schwab Investment Management Inc. lifted its position in MBX Biosciences by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company’s stock worth $698,000 after acquiring an additional 1,235 shares during the period. Finally, Deutsche Bank AG lifted its position in MBX Biosciences by 102.0% during the 1st quarter. Deutsche Bank AG now owns 8,762 shares of the company’s stock worth $65,000 after acquiring an additional 4,424 shares during the period.

MBX Biosciences Price Performance

Shares of NASDAQ MBX opened at $19.52 on Monday. The company has a market cap of $655.68 million and a PE ratio of -4.30. The firm’s fifty day moving average is $14.71. MBX Biosciences has a 12-month low of $4.81 and a 12-month high of $27.50.

About MBX Biosciences

(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.

Recommended Stories