MBX Biosciences (NASDAQ:MBX) Sets New 52-Week High – What’s Next?

MBX Biosciences, Inc. (NASDAQ:MBX)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $71.12 and last traded at $70.70, with a volume of 695976 shares trading hands. The stock had previously closed at $64.41.

Analysts Set New Price Targets

Several analysts have recently weighed in on MBX shares. UBS Group restated a “buy” rating and set a $90.00 price target on shares of MBX Biosciences in a report on Thursday, July 23rd. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a report on Tuesday, May 12th. Truist Financial lifted 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 shares of MBX Biosciences from a “sell” rating to a “hold” rating in a report on Tuesday, July 28th. 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 report on Wednesday, July 29th. One equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.12.

MBX Biosciences Stock Performance

The stock’s 50 day moving average price is $50.06 and its 200 day moving average price is $39.46. The company has a market capitalization of $3.37 billion, a P/E ratio of -31.99 and a beta of 0.10.

Institutional Trading of MBX Biosciences

A number of institutional investors have recently bought and sold shares of the company. CWM LLC raised its position in shares of MBX Biosciences by 28.9% in the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock worth $56,000 after acquiring an additional 400 shares in the last quarter. Royal Bank of Canada lifted its stake 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 purchasing an additional 572 shares during the period. California State Teachers Retirement System boosted its position in shares of MBX Biosciences by 64.7% during the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after purchasing an additional 689 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of MBX Biosciences during the 4th quarter valued at about $28,000. Finally, Strs Ohio grew its stake in MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares during the period.

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.