MBX Biosciences (NASDAQ:MBX) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded MBX Biosciences from “sell” to “hold”, adding to a mixed analyst picture that still leans positive overall.
• Other firms remain more bullish, with Citigroup, Citizens JMP, Barclays, and Lifesci Capital issuing favorable ratings and higher price targets. MarketBeat says the stock now has a Moderate Buy consensus and an average price target of $60.22.
• MBX shares fell $4.66 on Friday to $61.05, though the stock remains near its 52-week high of $66.55 and well above its moving averages.

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

MBX has been the topic of a number of other reports. Citigroup reiterated an "outperform" rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Citizens Jmp raised their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a "market outperform" rating in a research note on Tuesday, May 12th. Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a report on Tuesday, May 12th. Barclays upped their price target on MBX Biosciences from $66.00 to $70.00 and gave the company an "overweight" rating in a research report on Tuesday, May 12th. Finally, Lifesci Capital raised shares of MBX Biosciences to a "strong-buy" rating in a report on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, MBX Biosciences presently has an average rating of "Moderate Buy" and a consensus price target of $60.22.

MBX Biosciences Stock Performance

MBX Biosciences stock traded down $4.66 during mid-day trading on Friday, reaching $61.05. The company's stock had a trading volume of 851,979 shares, compared to its average volume of 1,008,028. The firm's fifty day moving average price is $40.35 and its two-hundred day moving average price is $35.90. MBX Biosciences has a 12-month low of $9.63 and a 12-month high of $66.55. The company has a market capitalization of $2.91 billion, a P/E ratio of -27.62 and a beta of 0.16.

Hedge Funds Weigh In On MBX Biosciences

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