MBX Biosciences (NASDAQ:MBX) Trading 6.5% Higher – What’s Next?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) were up 6.5% during trading on Thursday . The stock traded as high as $62.77 and last traded at $62.1060. Approximately 219,287 shares were traded during mid-day trading, a decline of 69% from the average session volume of 708,911 shares. The stock had previously closed at $58.30.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. Barclays increased their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of MBX Biosciences in a research note on Thursday. Finally, Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.75.

MBX Biosciences Trading Up 6.1%

The company has a market cap of $2.94 billion, a price-to-earnings ratio of -28.10 and a beta of 0.16. The company’s 50 day moving average price is $44.25 and its 200 day moving average price is $37.49.

Institutional Investors Weigh In On MBX Biosciences

A number of institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in shares of 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 period. GF Fund Management CO. LTD. acquired a new stake in MBX Biosciences in the fourth quarter valued at $28,000. Strs Ohio boosted its position in shares of MBX Biosciences by 128.6% during the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares in the last quarter. Royal Bank of Canada grew its stake in shares of 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 purchasing an additional 572 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of MBX Biosciences by 117.9% in the 3rd 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 in 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.