MBX Biosciences (NASDAQ:MBX) Now Covered by Analysts at Truist Financial

Key Points

• Truist Financial initiated coverage of MBX Biosciences with a "buy" rating and a price target of $50.00, indicating a potential upside of approximately 270%.
• MBX currently has a consensus rating of "Moderate Buy" from analysts, with seven ratings of Buy and one Sell, and an average price target of $44.00.
• Director Patrick J. Heron significantly increased his stake in the company by purchasing 666,666 shares at $18.00 each, boosting his total ownership to over $93 million.

Research analysts at Truist Financial began coverage on shares of MBX Biosciences (NASDAQ:MBX - Get Free Report) in a report issued on Wednesday,Benzinga reports. The brokerage set a "buy" rating and a $50.00 price target on the stock. Truist Financial's price target points to a potential upside of 269.82% from the stock's previous close.

Several other research firms have also recently commented on MBX. Wall Street Zen upgraded MBX Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Mizuho lifted their price target on MBX Biosciences from $38.00 to $56.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Citigroup reiterated an "outperform" rating on shares of MBX Biosciences in a report on Monday, September 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a report on Wednesday, October 8th. Finally, Oppenheimer started coverage on MBX Biosciences in a report on Wednesday, July 16th. They set an "outperform" rating and a $38.00 target price for the company. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MBX Biosciences presently has a consensus rating of "Moderate Buy" and an average price target of $44.00.

MBX Biosciences Price Performance

MBX Biosciences stock opened at $13.52 on Wednesday. The stock has a market cap of $454.19 million and a P/E ratio of -2.98. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $27.50.

Insider Activity

In other MBX Biosciences news, Director Patrick J. Heron bought 666,666 shares of the business's stock in a transaction on Friday, September 26th. The shares were bought at an average cost of $18.00 per share, with a total value of $11,999,988.00. Following the transaction, the director directly owned 5,219,440 shares in the company, valued at approximately $93,949,920. This trade represents a 14.64% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in MBX. New York State Common Retirement Fund acquired a new stake in shares of MBX Biosciences during the 1st quarter valued at approximately $32,000. Deutsche Bank AG raised its position in shares of MBX Biosciences by 102.0% during the 1st quarter. Deutsche Bank AG now owns 8,762 shares of the company's stock valued at $65,000 after acquiring an additional 4,424 shares in the last quarter. Wealthedge Investment Advisors LLC acquired a new stake in shares of MBX Biosciences during the 1st quarter valued at approximately $88,000. Virtus Investment Advisers LLC raised its position in shares of MBX Biosciences by 9.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company's stock valued at $100,000 after acquiring an additional 766 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of MBX Biosciences by 40.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company's stock valued at $106,000 after acquiring an additional 2,682 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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