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

Key Points

• MBX Biosciences was downgraded by Wall Street Zen from “hold” to “sell” in a Monday report, despite broader analyst sentiment remaining more positive overall.
• Other firms recently raised their outlooks, including Barclays, Truist Financial, and Citizens JMP, and the stock currently has a “Moderate Buy” consensus with a $63 target price.
• The shares opened at $62.92, near their 52-week high of $66.55, while the company’s market cap stands at about $2.99 billion.

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

Other research analysts also recently issued reports about the company. Barclays lifted their target price on MBX Biosciences from $66.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 12th. Lifesci Capital upgraded MBX Biosciences to a "strong-buy" rating in a research note on Tuesday, March 31st. Truist Financial raised their price target on MBX Biosciences from $50.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 11th. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a research report on Tuesday, May 12th. Finally, Citizens Jmp upped their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a "market outperform" rating in a report on Tuesday, May 12th. One equities research 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $63.00.

MBX Biosciences Price Performance

Shares of NASDAQ MBX opened at $62.92 on Monday. The business's 50 day moving average price is $42.96 and its two-hundred day moving average price is $36.90. The company has a market cap of $2.99 billion, a PE ratio of -28.47 and a beta of 0.16. MBX Biosciences has a twelve month low of $9.63 and a twelve month high of $66.55.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in MBX. Stempoint Capital LP increased its stake in shares of MBX Biosciences by 535.8% during the first quarter. Stempoint Capital LP now owns 499,469 shares of the company's stock worth $14,909,000 after purchasing an additional 420,916 shares during the period. Janus Henderson Group PLC bought a new stake in MBX Biosciences in the 1st quarter valued at $308,000. California State Teachers Retirement System grew its holdings in MBX Biosciences by 1,197.9% in the 1st quarter. California State Teachers Retirement System now owns 22,765 shares of the company's stock valued at $680,000 after buying an additional 21,011 shares in the last quarter. Rock Springs Capital Management LP increased its position in MBX Biosciences by 1.9% during the 1st quarter. Rock Springs Capital Management LP now owns 287,967 shares of the company's stock worth $8,596,000 after buying an additional 5,343 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in MBX Biosciences by 30.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company's stock worth $2,705,000 after buying an additional 21,083 shares during the period.

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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