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

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) has been given a consensus rating of "Buy" by the seven ratings firms that are currently covering the stock, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $37.57.

Several equities analysts have issued reports on the stock. Guggenheim restated a "buy" rating and set a $44.00 target price on shares of MBX Biosciences in a research note on Thursday, April 10th. Citizens Jmp started coverage on MBX Biosciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $38.00 target price for the company. JMP Securities assumed coverage on MBX Biosciences in a report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 price objective for the company. Finally, Oppenheimer assumed coverage on shares of MBX Biosciences in a report on Wednesday. They issued an "outperform" rating and a $38.00 price target on the stock.

MBX Biosciences Stock Performance

Shares of MBX stock traded down $0.44 during mid-day trading on Friday, reaching $11.75. 273,419 shares of the company's stock traded hands, compared to its average volume of 264,355. The company's 50-day moving average price is $11.80 and its 200-day moving average price is $10.56. MBX Biosciences has a 12 month low of $4.81 and a 12 month high of $27.50.

Institutional Trading of MBX Biosciences

Several large investors have recently added to or reduced their stakes in the stock. Woodline Partners LP grew its holdings in shares of MBX Biosciences by 44.1% during the 1st quarter. Woodline Partners LP now owns 877,461 shares of the company's stock worth $6,476,000 after purchasing an additional 268,740 shares during the period. Exome Asset Management LLC acquired a new position in MBX Biosciences during the 1st quarter worth about $982,000. Parkman Healthcare Partners LLC raised its position in MBX Biosciences by 93.1% in the 1st quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock valued at $2,423,000 after purchasing an additional 158,323 shares in the last quarter. MPM Bioimpact LLC acquired a new stake in MBX Biosciences in the 1st quarter valued at about $8,361,000. Finally, Affinity Asset Advisors LLC acquired a new stake in MBX Biosciences in the 1st quarter valued at about $1,292,000.

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.