Brokerages Set MBX Biosciences, Inc. (NYSE:MBX) Price Target at $37.57

Shares of MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) have earned a consensus recommendation of "Buy" from the seven analysts that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $37.57.

MBX has been the subject of several research reports. Citizens Jmp assumed coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They issued an "outperform" rating and a $38.00 target price for the company. Guggenheim reaffirmed a "buy" rating and set a $44.00 price target on shares of MBX Biosciences in a research note on Thursday, April 10th. JMP Securities began coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 price target for the company. Finally, Oppenheimer began coverage on shares of MBX Biosciences in a research note on Wednesday, July 16th. They set an "outperform" rating and a $38.00 price target on the stock.

MBX Biosciences Stock Down 4.0%

Shares of MBX stock traded down $0.49 on Friday, hitting $11.70. 385,477 shares of the stock were exchanged, compared to its average volume of 265,398. The business has a 50-day moving average of $11.80 and a 200 day moving average of $10.50. MBX Biosciences has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in shares of MBX Biosciences in the fourth quarter valued at $27,000. Virtus ETF Advisers LLC acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at $64,000. New York State Common Retirement Fund acquired a new stake in MBX Biosciences in the first quarter worth about $32,000. Deutsche Bank AG acquired a new stake in MBX Biosciences in the fourth quarter worth about $80,000. Finally, Corebridge Financial Inc. acquired a new position in shares of MBX Biosciences during the 4th quarter worth about $103,000.

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.