MBX Biosciences (NASDAQ:MBX) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded MBX Biosciences to “Sell” from “Hold,” though the broader analyst consensus remains “Moderate Buy,” with an average price target of $73.38.
• MBX shares opened at $67.82, up 1.1%, after rising sharply toward their 12-month high of $72.64. The company has a $3.23 billion market capitalization and remains unprofitable.
• MBX reported quarterly EPS of -$0.78, missing the consensus estimate of -$0.68; analysts expect a full-year loss of approximately $2.84 per share.

MBX Biosciences (NASDAQ:MBX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

MBX has been the subject of a number of other reports. Barclays reiterated an "overweight" rating and issued a $88.00 price objective on shares of MBX Biosciences in a research note on Friday. Citizens Jmp increased their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a "market outperform" rating in a research report on Tuesday, May 12th. Truist Financial raised their price target on MBX Biosciences from $50.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a research report on Friday, July 17th. Finally, UBS Group reiterated a "buy" rating and set a $90.00 price objective on shares of MBX Biosciences in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $73.38.

MBX Biosciences Stock Up 1.1%

Shares of MBX stock opened at $67.82 on Friday. The firm has a market cap of $3.23 billion, a P/E ratio of -28.14 and a beta of 0.10. The company has a 50 day moving average of $52.20 and a 200-day moving average of $40.03. MBX Biosciences has a 12-month low of $9.63 and a 12-month high of $72.64.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). As a group, equities analysts expect that MBX Biosciences will post -2.84 EPS for the current year.

Institutional Trading of MBX Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company's stock valued at $26,000 after purchasing an additional 1,446 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of MBX Biosciences during the 4th quarter valued at $28,000. Strs Ohio increased its holdings in shares of MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company's stock worth $48,000 after purchasing an additional 900 shares during the period. Royal Bank of Canada raised its position in shares of MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company's stock worth $49,000 after buying an additional 572 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company's stock worth $51,000 after buying an additional 1,567 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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