MBX Biosciences (NASDAQ:MBX) Earns "Sell (D-)" Rating from Weiss Ratings

Key Points

• MBX Biosciences received a "Sell (D-)" rating from Weiss Ratings, highlighting concerns about the company's stock performance.
• Despite the negative outlook from Weiss, the stock has a consensus rating of "Moderate Buy" from analysts, with six analysts giving it a Buy rating and a target price averaging $42.80.
• Recent insider trading saw Director Patrick J. Heron purchasing 666,666 shares, indicating confidence in the company's future and increasing his stake by 14.64%.

MBX Biosciences (NASDAQ:MBX - Get Free Report)'s stock had its "sell (d-)" rating reiterated by stock analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently issued reports on MBX. Citigroup reiterated an "outperform" rating on shares of MBX Biosciences in a report on Monday, September 22nd. Wall Street Zen upgraded shares of MBX Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. 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 target price for the company. Finally, Mizuho increased their target price on shares of MBX Biosciences from $38.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, MBX Biosciences currently has a consensus rating of "Moderate Buy" and an average target price of $42.80.

MBX Biosciences Stock Up 0.4%

MBX Biosciences stock opened at $15.86 on Wednesday. The company has a market capitalization of $532.80 million and a PE ratio of -3.49. MBX Biosciences has a 12-month low of $4.81 and a 12-month high of $27.50.

Insider Buying and Selling

In other news, Director Patrick J. Heron acquired 666,666 shares of the firm's stock in a transaction that occurred on Friday, September 26th. The stock was purchased at an average price of $18.00 per share, with a total value of $11,999,988.00. Following the purchase, the director owned 5,219,440 shares of the company's stock, valued at approximately $93,949,920. This trade represents a 14.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 52.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MPM Bioimpact LLC purchased a new stake in MBX Biosciences in the 1st quarter worth approximately $8,361,000. Woodline Partners LP lifted its position in MBX Biosciences by 44.1% in the 1st 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. Sio Capital Management LLC purchased a new stake in MBX Biosciences in the 2nd quarter worth approximately $2,750,000. Affinity Asset Advisors LLC purchased a new stake in MBX Biosciences in the 1st quarter worth approximately $1,292,000. Finally, Parkman Healthcare Partners LLC lifted 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 worth $2,423,000 after buying an additional 158,323 shares in the last quarter.

About MBX Biosciences

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.

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