MBX Biosciences (NYSE:MBX) Now Covered by Mizuho

Key Points

• Mizuho has initiated coverage of MBX Biosciences with an "outperform" rating and a price target of $38.00, indicating a potential upside of 203.03% from its previous close.
• The stock has received favorable ratings from several brokerages, with an average target price of $37.63 and a consensus rating of "Buy".
• MBX Biosciences has seen significant institutional interest, with hedge funds like MPM Bioimpact LLC purchasing a stake worth approximately $8.36 million recently.

Mizuho started coverage on shares of MBX Biosciences (NYSE:MBX - Free Report) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $38.00 target price on the stock.

A number of other equities research analysts also recently weighed in on MBX. Guggenheim restated a "buy" rating and set a $44.00 price target on shares of MBX Biosciences in a research report on Thursday, April 10th. Oppenheimer started coverage on MBX Biosciences in a research report on Wednesday, July 16th. They set an "outperform" rating and a $38.00 price objective on the stock. JMP Securities initiated coverage on MBX Biosciences in a research report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 target price for the company. Finally, Citizens Jmp started coverage on MBX Biosciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $38.00 target price for the company. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $37.63.

MBX Biosciences Stock Performance

Shares of NYSE MBX traded up $1.03 during mid-day trading on Tuesday, reaching $12.16. 690,201 shares of the company were exchanged, compared to its average volume of 326,110. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $27.50. The company's 50 day moving average price is $12.19 and its 200 day moving average price is $10.54.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors have recently bought and sold shares of MBX. Rockefeller Capital Management L.P. purchased a new position in shares of MBX Biosciences in the second quarter valued at about $389,000. Intech Investment Management LLC grew its stake in shares of MBX Biosciences by 33.0% in the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company's stock worth $163,000 after purchasing an additional 3,543 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MBX Biosciences by 27.0% in the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company's stock worth $3,976,000 after purchasing an additional 73,989 shares during the last quarter. Koa Wealth Management LLC increased its holdings in MBX Biosciences by 63.7% during the 2nd quarter. Koa Wealth Management LLC now owns 31,752 shares of the company's stock valued at $362,000 after purchasing an additional 12,356 shares during the period. Finally, TD Asset Management Inc raised its position in MBX Biosciences by 13.1% during the 2nd quarter. TD Asset Management Inc now owns 171,304 shares of the company's stock valued at $1,955,000 after purchasing an additional 19,800 shares during the last quarter.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.