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

Key Points

• MBX Biosciences received a consensus rating of "Buy" from nine research firms, with an average 12-month target price of $39.8750.
• Director Patrick J. Heron significantly increased his holdings by purchasing 666,666 shares at $18.00 each, raising his total ownership to 5.2 million shares.
• Several hedge funds, including Woodline Partners and Parkman Healthcare, have increased their stakes in MBX Biosciences, indicating growing interest from institutional investors.

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) has earned an average rating of "Buy" from the nine research firms that are covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $39.8750.

Several analysts have recently issued reports on the stock. Oppenheimer started coverage on shares of MBX Biosciences in a research report on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 target price on the stock. Mizuho raised their price target on shares of MBX Biosciences from $38.00 to $56.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Finally, Citigroup reissued an "outperform" rating on shares of MBX Biosciences in a research note on Monday, September 22nd.

Insider Buying and Selling at MBX Biosciences

In other MBX Biosciences news, Director Patrick J. Heron purchased 666,666 shares of the firm's stock in a transaction dated Friday, September 26th. The shares were purchased at an average cost of $18.00 per share, with a total value of $11,999,988.00. Following the completion of the purchase, the director owned 5,219,440 shares in the company, valued at approximately $93,949,920. This represents a 14.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 52.19% of the company's stock.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the business. Woodline Partners LP lifted its stake in shares of MBX Biosciences by 44.1% in the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock worth $6,476,000 after buying an additional 268,740 shares in the last quarter. Parkman Healthcare Partners LLC raised its stake in MBX Biosciences by 93.1% during the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock worth $2,423,000 after purchasing an additional 158,323 shares during the period. Jump Financial LLC purchased a new position in MBX Biosciences during the first quarter worth about $214,000. Walleye Capital LLC purchased a new position in MBX Biosciences during the first quarter worth about $240,000. Finally, Exome Asset Management LLC purchased a new position in MBX Biosciences during the first quarter worth about $982,000.

MBX Biosciences Stock Up 2.3%

Shares of NYSE MBX opened at $17.90 on Thursday. The company's 50-day simple moving average is $13.73 and its 200-day simple moving average is $11.47. MBX Biosciences has a 52-week low of $4.81 and a 52-week high of $27.50. The firm has a market cap of $601.33 million and a price-to-earnings ratio of -3.94.

MBX Biosciences Company Profile

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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