MBX Biosciences, Inc. (NASDAQ:MBX) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on MBX Biosciences, with nine buy ratings, one strong-buy rating, and two sell ratings. The average 12-month price target is $66.75.
• Recent firms have generally raised their outlooks, including Citizens JMP increasing its target to $86 and Barclays raising its target to $70, though Weiss Ratings reiterated a sell rating.
• MBX shares opened at $60.06, near their 52-week high of $66.66, while several institutional investors—including Geode Capital and Rhumbline Advisers—recently increased their holdings.

Shares of MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $66.75.

A number of research firms recently issued reports on MBX. Lifesci Capital raised MBX Biosciences to a "strong-buy" rating in a report on Tuesday, March 31st. Citizens Jmp increased their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a "market outperform" rating in a report on Tuesday, May 12th. Barclays raised their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a research note on Tuesday, May 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a research report on Friday, July 17th.

MBX Biosciences Stock Performance

MBX Biosciences stock opened at $60.06 on Wednesday. The firm has a market cap of $2.86 billion, a P/E ratio of -27.18 and a beta of 0.16. The business's fifty day moving average is $46.60 and its two-hundred day moving average is $38.38. MBX Biosciences has a 52 week low of $9.63 and a 52 week high of $66.66.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in MBX Biosciences by 27.0% in the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company's stock valued at $3,976,000 after buying an additional 73,989 shares during the last quarter. Rhumbline Advisers raised its position in shares of MBX Biosciences by 171.6% during the second quarter. Rhumbline Advisers now owns 23,662 shares of the company's stock worth $270,000 after acquiring an additional 14,950 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of MBX Biosciences during the second quarter valued at $135,000. The Manufacturers Life Insurance Company boosted its holdings in MBX Biosciences by 73.8% in the second quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company's stock valued at $994,000 after acquiring an additional 36,987 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in MBX Biosciences by 40.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company's stock worth $106,000 after purchasing an additional 2,682 shares during the period.

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.

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