MBX Biosciences (NASDAQ:MBX) Hits New 1-Year High After Analyst Upgrade

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) reached a new 52-week high during mid-day trading on Thursday after Mizuho raised their price target on the stock from $57.00 to $91.00. Mizuho currently has an outperform rating on the stock. MBX Biosciences traded as high as $66.66 and last traded at $66.46, with a volume of 547982 shares trading hands. The stock had previously closed at $63.96.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Friday, July 17th. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a research report on Tuesday, May 12th. Finally, Truist Financial upped their target price on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.12.

Institutional Trading of MBX Biosciences

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,446 shares during the period. GF Fund Management CO. LTD. bought a new stake in shares of MBX Biosciences during the 4th quarter valued at about $28,000. Strs Ohio lifted 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 purchasing an additional 900 shares during the period. Royal Bank of Canada grew its position in MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after buying an additional 572 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after buying an additional 1,567 shares during the last quarter.

MBX Biosciences Price Performance

The company’s 50-day simple moving average is $47.25 and its two-hundred day simple moving average is $38.61. The firm has a market capitalization of $3.16 billion, a P/E ratio of -30.07 and a beta of 0.16.

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.