MBX Biosciences, Inc. (NYSE:MBX) Given Consensus Recommendation of "Buy" by Analysts

Key Points

• MBX Biosciences, Inc. has received a consensus recommendation of "Buy" from eight brokerages with an average 12-month price target of $37.63.
• The stock has experienced an increase of 11.3%, currently trading at $12.53, with a market capitalization of $418.80 million.
• MBX Biosciences is a clinical-stage biopharmaceutical company focused on precision peptide therapies for endocrine and metabolic disorders, with its lead product in Phase 2 trials.

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) has been given an average recommendation of "Buy" by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $37.6250.

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

MBX Biosciences Trading Up 11.3%

Shares of NYSE:MBX opened at $12.53 on Wednesday. The stock has a market capitalization of $418.80 million and a PE ratio of -2.76. MBX Biosciences has a 1 year low of $4.81 and a 1 year high of $27.50. The firm has a fifty day moving average price of $12.13 and a 200 day moving average price of $10.56.

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of MBX Biosciences in the second quarter valued at about $135,000. Rhumbline Advisers lifted its stake in shares of MBX Biosciences by 171.6% in the second quarter. Rhumbline Advisers now owns 23,662 shares of the company's stock valued at $270,000 after buying an additional 14,950 shares during the period. Franklin Resources Inc. lifted its stake in shares of MBX Biosciences by 34.0% in the second quarter. Franklin Resources Inc. now owns 494,852 shares of the company's stock valued at $5,646,000 after buying an additional 125,537 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of MBX Biosciences in the second quarter valued at about $389,000. Finally, Intech Investment Management LLC lifted its stake in MBX Biosciences by 33.0% during the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company's stock worth $163,000 after purchasing an additional 3,543 shares during the period.

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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