MBX Biosciences (NASDAQ:MBX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of MBX Biosciences (NASDAQ:MBX) from a sell rating to a hold rating in a report issued on Tuesday morning.

Several other research analysts also recently weighed in on the company. Barclays boosted their target price on MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. UBS Group reiterated a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a research note on Thursday, July 23rd. Truist Financial raised their price target on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Citizens Jmp boosted their price target on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 12th. Finally, Citigroup restated an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $66.75.

MBX Biosciences Trading Down 2.0%

Shares of MBX stock opened at $60.06 on Tuesday. MBX Biosciences has a 12-month low of $9.63 and a 12-month high of $66.66. The business’s fifty day simple moving average is $46.60 and its 200-day simple moving average is $38.38. The company has a market cap of $2.86 billion, a PE ratio of -27.18 and a beta of 0.16.

Institutional Investors Weigh In On MBX Biosciences

A number of large investors have recently made changes to their positions in the stock. Aaron Wealth Advisors LLC boosted its holdings in shares of MBX Biosciences by 40.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock valued at $2,208,000 after acquiring an additional 20,000 shares during the last quarter. Candriam S.C.A. purchased a new position in shares of MBX Biosciences during the first quarter worth $8,787,000. Eventide Asset Management LLC purchased a new position in shares of MBX Biosciences during the fourth quarter worth $28,071,000. Seven Fleet Capital Management LP acquired a new position in MBX Biosciences during the fourth quarter valued at $574,000. Finally, Elmind Capital LP purchased a new stake in MBX Biosciences in the fourth quarter valued at $6,655,000.

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.