MBX Biosciences (NASDAQ:MBX) Given New $91.00 Price Target at Mizuho

MBX Biosciences (NASDAQ:MBX) had its price target hoisted by equities researchers at Mizuho from $57.00 to $91.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 45.55% from the company’s current price.

Other analysts have also recently issued research reports about the company. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Truist Financial raised their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. UBS Group reiterated a “buy” rating and set a $90.00 price target on shares of MBX Biosciences in a report on Thursday, July 23rd. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Citizens Jmp upped 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. One investment 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.12.

MBX Biosciences Trading Up 4.1%

Shares of NASDAQ MBX traded up $2.46 during trading on Wednesday, reaching $62.52. The company had a trading volume of 164,172 shares, compared to its average volume of 702,539. MBX Biosciences has a twelve month low of $9.63 and a twelve month high of $66.66. The stock has a 50-day moving average price of $46.60 and a two-hundred day moving average price of $38.38. The stock has a market capitalization of $2.98 billion, a PE ratio of -28.35 and a beta of 0.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBX. Wellington Management Group LLP grew its holdings in MBX Biosciences by 112.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after purchasing an additional 2,556,708 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in MBX Biosciences by 1,568.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock valued at $34,870,000 after buying an additional 1,098,176 shares during the last quarter. Braidwell LP acquired a new stake in shares of MBX Biosciences during the fourth quarter valued at about $32,127,000. Deep Track Capital LP increased its position in shares of MBX Biosciences by 43.9% during the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after acquiring an additional 961,408 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in shares of MBX Biosciences in the fourth quarter worth about $28,071,000.

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.