MBX Biosciences (NASDAQ:MBX) Stock Jumps 4.1% - Time to Buy?

Key Points

• MBX Biosciences shares rose 4.1% to $55.84, although trading volume was 86% below the stock’s average daily volume.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and a $77 price target; however, two analysts maintain Sell ratings.
• The company reported a quarterly loss of $0.78 per share, missing estimates by $0.10, while institutional investors—including Wellington Management—expanded their positions.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report)'s stock price shot up 4.1% during trading on Monday. The stock traded as high as $55.93 and last traded at $55.84. 88,613 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 652,820 shares. The stock had previously closed at $53.63.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research report on Friday, August 21st. They set an "overweight" rating and a $88.00 price target for the company. Wall Street Zen lowered shares of MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Truist Financial increased their price objective on shares of MBX Biosciences from $70.00 to $88.00 and gave the company a "buy" rating in a report on Monday, August 10th. Weiss Ratings reissued a "sell (d-)" rating on shares of MBX Biosciences in a report on Friday, July 17th. Finally, Mizuho upped their target price on MBX Biosciences from $57.00 to $91.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.00.

MBX Biosciences Trading Up 7.5%

The firm has a market capitalization of $2.78 billion, a P/E ratio of -23.90 and a beta of 0.04. The business's fifty day moving average is $63.48 and its 200 day moving average is $46.65.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). As a group, sell-side analysts predict that MBX Biosciences, Inc. will post -3.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBX Biosciences

A number of institutional investors have recently bought and sold shares of MBX. Arizona State Retirement System acquired a new stake in MBX Biosciences during the 2nd quarter worth about $326,000. AXQ Capital LP purchased a new position in shares of MBX Biosciences in the second quarter worth approximately $428,000. Moore Capital Management LP purchased a new position in shares of MBX Biosciences in the second quarter worth approximately $3,582,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of MBX Biosciences by 194.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,344 shares of the company's stock valued at $1,178,000 after acquiring an additional 14,106 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of MBX Biosciences by 55.9% in the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company's stock valued at $274,759,000 after acquiring an additional 1,785,699 shares in the last quarter.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing precision peptide therapies for endocrine and metabolic disorders. The company uses its Precision Empowered Peptide platform to design peptide medicines intended to provide targeted biological activity, extended duration and improved dosing convenience.

MBX's lead product candidate is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism.

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