Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) PT at $66.75

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $71.1250.

A number of analysts have recently issued reports on the stock. UBS Group reissued a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a research report on Thursday, July 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Truist Financial boosted their target price on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Mizuho boosted their target price on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday.

MBX Biosciences Stock Performance

NASDAQ MBX opened at $65.93 on Wednesday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -29.83 and a beta of 0.16. MBX Biosciences has a twelve month low of $9.63 and a twelve month high of $69.40. The firm’s 50 day moving average price is $48.63 and its two-hundred day moving average price is $39.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MBX. Wellington Management Group LLP increased its stake in MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after acquiring an additional 2,556,708 shares during the period. Aaron Wealth Advisors LLC lifted its position in shares of MBX Biosciences by 1,568.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after acquiring an additional 1,098,176 shares during the period. Braidwell LP acquired a new stake in shares of MBX Biosciences during the 4th quarter worth approximately $32,127,000. Deep Track Capital LP grew its holdings in shares of MBX Biosciences by 43.9% during the 3rd quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after purchasing an additional 961,408 shares in the last quarter. Finally, Eventide Asset Management LLC bought a new stake in shares of MBX Biosciences during the fourth quarter valued at approximately $28,071,000.

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.