MBX Biosciences, Inc. (NYSE:MBX) Given Consensus Rating of "Buy" by Brokerages

Key Points

• MBX Biosciences, Inc. (NYSE:MBX) has received a consensus rating of "Buy" from eight research firms, with an average 12-month target price of $37.63.
• The company's stock has shown significant price volatility, with a 52-week low of $4.81 and a high of $27.50.
• Multiple hedge funds have recently increased their stakes in MBX Biosciences, indicating growing institutional interest in the company.

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight research firms that are covering the firm, Marketbeat reports. Eight analysts have rated the stock with a buy recommendation. The average 12 month target price among analysts that have covered the stock in the last year is $37.6250.

Several equities analysts have recently issued reports on MBX shares. Mizuho started coverage on MBX Biosciences in a research note on Tuesday, August 5th. They issued an "outperform" rating and a $38.00 price target on the stock. Oppenheimer started coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price target on the stock.

MBX Biosciences Price Performance

Shares of NYSE MBX opened at $11.55 on Friday. The stock has a market capitalization of $388.01 million and a PE ratio of -2.54. The business has a fifty day moving average price of $13.23 and a two-hundred day moving average price of $10.98. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Hedge Funds Weigh In On MBX Biosciences

Several hedge funds and other institutional investors have recently modified their holdings of the business. Virtus Investment Advisers LLC increased its stake in shares of MBX Biosciences by 9.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company's stock valued at $100,000 after purchasing an additional 766 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of MBX Biosciences by 1.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company's stock valued at $698,000 after purchasing an additional 1,235 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of MBX Biosciences in the 4th quarter valued at $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of MBX Biosciences by 40.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company's stock valued at $106,000 after purchasing an additional 2,682 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in MBX Biosciences by 7.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company's stock worth $916,000 after acquiring an additional 3,481 shares during the last quarter.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.

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