MBX Biosciences (NYSE:MBX) Sees Unusually-High Trading Volume - Here's Why

Key Points

• MBX Biosciences experienced a significant increase in trading volume, with around 548,113 shares traded, marking an 11% rise from the previous session.
• Multiple analysts maintain an "outperform" rating for MBX, with a consensus price target of $37.63, suggesting potential upside for investors.
• Institutional investments are on the rise, with firms like Bank of America increasing their holdings by over 50%, indicating growing confidence in the company.

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 548,113 shares changed hands during trading, an increase of 11% from the previous session's volume of 494,550 shares.The stock last traded at $19.90 and had previously closed at $20.00.

Analyst Upgrades and Downgrades

MBX has been the subject of several research analyst reports. Citigroup restated an "outperform" rating on shares of MBX Biosciences in a research note on Monday. Mizuho initiated coverage on shares of MBX Biosciences in a research note on Tuesday, August 5th. They issued an "outperform" rating and a $38.00 price objective for the company. Finally, Oppenheimer restated an "outperform" rating on shares of MBX Biosciences in a research note on Monday. Nine equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, MBX Biosciences currently has a consensus rating of "Buy" and a consensus target price of $37.63.

MBX Biosciences Trading Down 3.5%

The stock's 50 day moving average price is $12.93 and its two-hundred day moving average price is $11.05. The firm has a market capitalization of $648.30 million and a PE ratio of -4.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bridgeway Capital Management LLC purchased a new position in shares of MBX Biosciences during the 2nd quarter worth approximately $333,000. Bank of America Corp DE increased its stake in shares of MBX Biosciences by 50.9% during the 2nd quarter. Bank of America Corp DE now owns 42,387 shares of the company's stock worth $484,000 after purchasing an additional 14,297 shares in the last quarter. MPM Bioimpact LLC increased its stake in shares of MBX Biosciences by 14.3% during the 2nd quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company's stock worth $14,769,000 after purchasing an additional 161,466 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MBX Biosciences by 40.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company's stock worth $106,000 after acquiring an additional 2,682 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in MBX Biosciences by 73.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company's stock worth $994,000 after acquiring an additional 36,987 shares during the period.

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.

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