MBX Biosciences (NASDAQ:MBX) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of MBX Biosciences (NASDAQ:MBX) from a hold rating to a sell rating in a report released on Monday morning.

Several other analysts also recently issued reports on MBX. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Barclays upped their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Citizens Jmp raised their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday, April 21st. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.00.

MBX Biosciences Stock Down 3.3%

NASDAQ MBX opened at $58.30 on Monday. MBX Biosciences has a 52 week low of $9.63 and a 52 week high of $66.55. The business has a 50 day moving average price of $44.25 and a 200-day moving average price of $37.49. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -26.38 and a beta of 0.16.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its position in 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 buying an additional 1,446 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in MBX Biosciences during the 4th quarter worth $28,000. Strs Ohio grew its stake in shares of 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 acquiring an additional 900 shares in the last quarter. Royal Bank of Canada grew 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 worth $49,000 after acquiring an additional 572 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after purchasing an additional 1,567 shares during the last quarter.

About MBX Biosciences

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.