MBX Biosciences (NASDAQ:MBX) Announces Quarterly Earnings Results

MBX Biosciences (NASDAQ:MBX) released its quarterly earnings results on Thursday. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.15, FiscalAI reports.

MBX Biosciences Stock Performance

Shares of NASDAQ MBX traded up $0.05 during mid-day trading on Friday, hitting $28.00. The stock had a trading volume of 728,539 shares, compared to its average volume of 561,199. The firm has a market cap of $1.26 billion, a PE ratio of -11.62 and a beta of 1.06. The company has a 50 day moving average of $35.57 and a two-hundred day moving average of $26.53. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $44.89.

Institutional Trading of MBX Biosciences

Several large investors have recently added to or reduced their stakes in MBX. GF Fund Management CO. LTD. purchased a new position in shares of MBX Biosciences in the fourth quarter worth about $28,000. Russell Investments Group Ltd. boosted its position in MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,446 shares during the last quarter. Royal Bank of Canada raised its position in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after buying an additional 572 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in MBX Biosciences during the 3rd quarter worth approximately $27,000. Finally, California State Teachers Retirement System lifted its stake in 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 acquiring an additional 689 shares during the period.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MBX. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. The Goldman Sachs Group started coverage on MBX Biosciences in a research report on Thursday, December 4th. They set a “sell” rating and a $18.00 target price on the stock. Truist Financial set a $50.00 price target on MBX Biosciences in a research note on Monday. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Finally, Barclays began coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 price objective on the stock. Ten analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.56.

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.