MBX Biosciences (NYSE:MBX) Earns Outperform Rating from Analysts at 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 initiated coverage on shares of MBX Biosciences (NYSE:MBX - Free Report) in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $38.00 price target on the stock.

Other research analysts also recently issued reports about the company. 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 price target on the stock. Oppenheimer started coverage on shares of MBX Biosciences in a research report on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price target on the stock. Citizens Jmp began coverage on MBX Biosciences in a report on Thursday, April 10th. They set an "outperform" rating and a $38.00 price objective on the stock. Finally, Guggenheim reaffirmed a "buy" rating and set a $44.00 price objective on shares of MBX Biosciences in a research note on Thursday, April 10th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, MBX Biosciences presently has a consensus rating of "Buy" and an average price target of $37.63.

MBX Biosciences Price Performance

NYSE MBX traded up $1.03 during trading on Tuesday, reaching $12.16. The company's stock had a trading volume of 690,201 shares, compared to its average volume of 326,110. MBX Biosciences has a 1-year low of $4.81 and a 1-year high of $27.50. The business has a 50-day moving average price of $12.19 and a 200-day moving average price of $10.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of MBX Biosciences by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company's stock worth $698,000 after purchasing an additional 1,235 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of MBX Biosciences in the fourth quarter valued at $27,000. Virtus ETF Advisers LLC bought a new position in shares of MBX Biosciences in the fourth quarter valued at approximately $64,000. The Manufacturers Life Insurance Company grew its stake in shares of MBX Biosciences by 7.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company's stock worth $916,000 after acquiring an additional 3,481 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of MBX Biosciences by 33.0% in the 2nd quarter. Intech Investment Management LLC now owns 14,271 shares of the company's stock worth $163,000 after buying an additional 3,543 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.