MBX Biosciences, Inc. (NASDAQ:MBX) Receives $66.75 Consensus Target Price from Analysts

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been given an average rating of “Moderate Buy” by the twelve research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $71.1250.

A number of analysts have issued reports on MBX shares. Mizuho raised their target price on MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Truist Financial upped their price target on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. UBS Group reiterated a “buy” rating and set a $90.00 price target on shares of MBX Biosciences in a research note on Thursday, July 23rd. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Finally, Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a report on Tuesday, May 12th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MBX. Geode Capital Management LLC boosted its position in shares of MBX Biosciences by 27.0% during the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after acquiring an additional 73,989 shares during the last quarter. Rhumbline Advisers increased its position in shares of MBX Biosciences by 171.6% in the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after purchasing an additional 14,950 shares during the last quarter. XTX Topco Ltd purchased a new stake in MBX Biosciences in the second quarter valued at approximately $135,000. The Manufacturers Life Insurance Company raised its stake in MBX Biosciences by 73.8% in the second quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock valued at $994,000 after purchasing an additional 36,987 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after purchasing an additional 2,682 shares during the last quarter.

MBX Biosciences Stock Up 9.8%

MBX stock opened at $70.70 on Wednesday. The firm has a market cap of $3.37 billion, a PE ratio of -31.99 and a beta of 0.10. The business has a 50 day moving average of $50.06 and a 200-day moving average of $39.46. MBX Biosciences has a 12-month low of $9.63 and a 12-month high of $71.12.

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.