MBX Biosciences (NYSE:MBX) Now Covered by Oppenheimer

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

Several other equities analysts have also recently weighed in on the stock. JMP Securities assumed coverage on shares of 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. Guggenheim reissued a "buy" rating and set a $44.00 target price on shares of MBX Biosciences in a research report on Thursday, April 10th. Finally, Citizens Jmp initiated coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $38.00 target price on the stock. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $37.57.

MBX Biosciences Price Performance

NYSE MBX traded down $0.18 during trading hours on Wednesday, hitting $12.02. The company's stock had a trading volume of 62,642 shares, compared to its average volume of 263,365. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $27.50. The company's 50-day simple moving average is $11.79 and its two-hundred day simple moving average is $10.66.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Driehaus Capital Management LLC increased its holdings in shares of MBX Biosciences by 61.2% in the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company's stock worth $29,152,000 after purchasing an additional 600,438 shares during the period. MPM Bioimpact LLC bought a new position in shares of MBX Biosciences in the first quarter worth $8,361,000. Woodline Partners LP increased its holdings in shares of MBX Biosciences by 44.1% in the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock worth $6,476,000 after purchasing an additional 268,740 shares during the period. Parkman Healthcare Partners LLC increased its holdings in shares of MBX Biosciences by 93.1% in the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock worth $2,423,000 after purchasing an additional 158,323 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of MBX Biosciences by 1,093.2% in the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company's stock worth $4,898,000 after purchasing an additional 243,434 shares during the period.

MBX Biosciences Company Profile

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.