MBX Biosciences (NASDAQ:MBX) Stock Price Breaks Above Fifty Day Moving Average on Disappointing Earnings

Key Points

• MBX Biosciences shares rose 4.2% and crossed above their 50-day moving average, reaching $58.12 before last trading at $56.33.
• The company reported a quarterly loss of $1.29 per share, wider than analysts’ expected loss of $0.80.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $87; ratings include 11 Buy/Strong Buy and two Sell recommendations.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday following a stronger than expected earnings report. The stock has a fifty day moving average of $56.08 and traded as high as $58.12. MBX Biosciences shares last traded at $56.33, with a volume of 1,124,405 shares.

The company reported ($1.29) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.49).

Analyst Upgrades and Downgrades

MBX has been the topic of a number of analyst reports. Mizuho upped their price target on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Wall Street Zen cut shares of MBX Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Truist Financial lifted their target price on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Stifel Nicolaus upped their target price on shares of MBX Biosciences from $70.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a report on Thursday, October 15th. One research 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's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MBX. Bank of America Corp DE bought a new position in MBX Biosciences in the second quarter worth approximately $16,501,000. The Manufacturers Life Insurance Company increased its holdings in MBX Biosciences by 30.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company's stock worth $2,705,000 after purchasing an additional 21,083 shares during the period. Elmind Capital LP purchased a new position in MBX Biosciences during the 2nd quarter worth $5,023,200. California State Teachers Retirement System increased its holdings in MBX Biosciences by 1,197.9% during the 1st quarter. California State Teachers Retirement System now owns 22,765 shares of the company's stock worth $680,000 after purchasing an additional 21,011 shares during the period. Finally, Dimensional Fund Advisors LP bought a new stake in MBX Biosciences during the 1st quarter valued at $1,396,000.

MBX Biosciences Trading Up 4.2%

The stock has a 50-day simple moving average of $56.08 and a two-hundred day simple moving average of $46.10. The firm has a market capitalization of $2.71 billion, a P/E ratio of -18.35 and a beta of 0.17.

MBX Biosciences Company Profile

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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