MBX Biosciences, Inc. (NASDAQ:MBX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

by · The Cerbat Gem

MBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $47.2222.

A number of research firms have issued reports on MBX. Stifel Nicolaus boosted their price objective on shares of MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Guggenheim decreased their price objective on MBX Biosciences from $84.00 to $77.00 and set a “buy” rating for the company in a report on Monday, November 10th. The Goldman Sachs Group initiated coverage on shares of MBX Biosciences in a report on Thursday, December 4th. They set a “sell” rating and a $18.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Wednesday, October 8th. Finally, Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd.

View Our Latest Report on MBX

MBX Biosciences Stock Performance

MBX opened at $42.99 on Friday. The company has a market cap of $1.93 billion, a P/E ratio of -17.99 and a beta of 0.86. MBX Biosciences has a 12 month low of $4.81 and a 12 month high of $43.18. The business has a 50 day simple moving average of $30.21.

MBX Biosciences (NASDAQ:MBX – Get Free Report) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.10.

Insider Buying and Selling at MBX Biosciences

In other news, CEO P. Kent Hawryluk bought 20,000 shares of the stock in a transaction on Monday, October 20th. The shares were bought at an average price of $13.64 per share, with a total value of $272,800.00. Following the completion of the acquisition, the chief executive officer owned 468,277 shares in the company, valued at $6,387,298.28. The trade was a 4.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven L. Hoerter bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were acquired at an average price of $13.25 per share, with a total value of $265,000.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $265,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 52.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Woodline Partners LP increased its holdings in MBX Biosciences by 44.1% in the 1st quarter. Woodline Partners LP now owns 877,461 shares of the company’s stock valued at $6,476,000 after acquiring an additional 268,740 shares during the last quarter. Sio Capital Management LLC purchased a new position in shares of MBX Biosciences during the second quarter valued at about $2,750,000. TD Asset Management Inc increased its holdings in shares of MBX Biosciences by 13.1% in the second quarter. TD Asset Management Inc now owns 171,304 shares of the company’s stock worth $1,955,000 after purchasing an additional 19,800 shares during the last quarter. Resolute Capital Asset Partners LLC purchased a new stake in shares of MBX Biosciences in the second quarter worth about $567,000. Finally, Walleye Capital LLC lifted its position in shares of MBX Biosciences by 116.5% in the second quarter. Walleye Capital LLC now owns 70,333 shares of the company’s stock worth $802,000 after buying an additional 37,843 shares in the last quarter.

MBX Biosciences Company Profile

(Get Free Report)

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.

See Also