MBX Biosciences (NASDAQ:MBX) Stock Jumps 5.2% - Time to Buy?

Key Points

• MBX Biosciences shares rose 5.2% to about $56.90, while trading volume was 73% below its average.
• Analyst sentiment is broadly positive: the stock has a “Moderate Buy” consensus rating and an average price target of $87, though two analysts rate it a Sell.
• The company reported a quarterly loss of $1.29 per share, missing the consensus estimate of a $0.80 loss. MBX is a clinical-stage biotech developing peptide treatments for endocrine and metabolic disorders.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report)'s share price rose 5.2% on Tuesday. The stock traded as high as $57.96 and last traded at $56.8950. Approximately 170,981 shares were traded during mid-day trading, a decline of 73% from the average session volume of 636,799 shares. The stock had previously closed at $54.06.

Wall Street Analyst Weigh In

Several research firms recently commented on MBX. Citigroup reaffirmed a "market outperform" rating on shares of MBX Biosciences in a research report on Tuesday, October 27th. Barclays reaffirmed an "overweight" rating and issued a $88.00 target price on shares of MBX Biosciences in a research note on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a report on Friday, August 21st. They set an "overweight" rating and a $88.00 target price for the company. UBS Group reissued a "buy" rating on shares of MBX Biosciences in a research note on Monday, September 28th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of MBX Biosciences in a report on Thursday, October 15th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $87.00.

MBX Biosciences Stock Performance

The business has a 50-day simple moving average of $56.19 and a two-hundred day simple moving average of $46.03. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -23.71 and a beta of 0.17.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last issued its quarterly earnings results on Monday, November 9th. The company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.49). On average, analysts expect that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its position in shares of MBX Biosciences by 847.7% in the third quarter. Sterling Capital Management LLC now owns 1,033 shares of the company's stock valued at $61,000 after acquiring an additional 924 shares during the last quarter. State of Wyoming bought a new stake in MBX Biosciences during the second quarter worth about $58,000. Strs Ohio boosted its position in MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company's stock valued at $48,000 after purchasing an additional 900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in MBX Biosciences during the third quarter valued at approximately $144,000. Finally, Quantbot Technologies LP acquired a new position in MBX Biosciences during the second quarter valued at approximately $213,000.

About MBX Biosciences

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company's research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.

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