MBX Biosciences (NASDAQ:MBX) Price Target Raised to $70.00

MBX Biosciences (NASDAQ:MBX) had its price target boosted by investment analysts at Truist Financial from $50.00 to $70.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would suggest a potential upside of 61.48% from the company’s previous close.

MBX has been the topic of several other reports. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Barclays began coverage on MBX Biosciences in a report on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 target price on the stock. Guggenheim boosted their target price on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.75.

MBX Biosciences Trading Up 5.8%

MBX traded up $2.38 on Monday, hitting $43.35. 725,202 shares of the stock traded hands, compared to its average volume of 599,868. MBX Biosciences has a 52 week low of $9.43 and a 52 week high of $45.85. The firm has a market capitalization of $2.06 billion, a PE ratio of -19.67 and a beta of 0.78. The business has a fifty day moving average price of $30.98 and a two-hundred day moving average price of $31.04.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.15. On average, equities research analysts forecast that MBX Biosciences will post -2.9 EPS for the current fiscal year.

Insider Buying and Selling at MBX Biosciences

In related news, CEO P. Kent Hawryluk purchased 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The shares were bought at an average price of $28.41 per share, with a total value of $525,585.00. Following the purchase, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. This trade represents a 3.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of MBX Biosciences by 28.9% in the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after purchasing an additional 400 shares during the period. Royal Bank of Canada increased its position in shares of MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after buying an additional 572 shares in the last quarter. California State Teachers Retirement System increased its position in shares of MBX Biosciences by 64.7% in the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after buying an additional 689 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of MBX Biosciences in the 4th quarter valued at $28,000. Finally, Strs Ohio increased its position in shares of MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after buying 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.