Wall Street Zen Upgrades MBX Biosciences (NASDAQ:MBX) to Hold

MBX Biosciences (NASDAQ:MBX - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Several other research firms also recently weighed in on MBX. Barclays began coverage on MBX Biosciences in a research note on Tuesday, January 27th. They set an "overweight" rating and a $66.00 price target on the stock. Truist Financial set a $50.00 price target on MBX Biosciences in a research note on Monday, March 9th. Lifesci Capital upgraded MBX Biosciences to a "strong-buy" rating in a research note on Tuesday, March 31st. TD Cowen reiterated a "buy" rating on shares of MBX Biosciences in a research note on Thursday, March 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, MBX Biosciences currently has a consensus rating of "Moderate Buy" and an average price target of $53.25.

MBX Biosciences Price Performance

Shares of MBX stock opened at $40.97 on Friday. MBX Biosciences has a 1-year low of $9.43 and a 1-year high of $44.89. The stock's fifty day moving average price is $30.98 and its 200 day moving average price is $31.04. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -18.54 and a beta of 0.78.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($0.64) by $0.15. As a group, equities research analysts anticipate that MBX Biosciences will post -2.9 earnings per share for the current year.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk acquired 18,500 shares of the company's stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $28.41 per share, with a total value of $525,585.00. Following the acquisition, the chief executive officer directly owned 486,777 shares of the company's stock, valued at approximately $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 52.19% of the stock is owned by company insiders.

Institutional Trading of MBX Biosciences

Large investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. purchased a new stake in shares of MBX Biosciences in the 4th quarter valued at $28,000. Russell Investments Group Ltd. boosted its holdings in shares of MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company's stock valued at $26,000 after acquiring an additional 1,446 shares during the last quarter. Royal Bank of Canada boosted its position in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company's stock worth $49,000 after purchasing an additional 572 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in MBX Biosciences in the 3rd quarter worth approximately $27,000. Finally, Strs Ohio boosted its position in MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company's stock worth $48,000 after purchasing an additional 900 shares in the last quarter.

MBX Biosciences Company Profile

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.

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