MBX Biosciences (NASDAQ:MBX) Reaches New 52-Week High – Should You Buy?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) reached a new 52-week high during trading on Tuesday . The company traded as high as $36.49 and last traded at $36.47, with a volume of 1226871 shares trading hands. The stock had previously closed at $31.66.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a report on Monday, September 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Wednesday, October 8th. The Goldman Sachs Group began coverage on MBX Biosciences in a report on Thursday, December 4th. They set a “sell” rating and a $18.00 price target on the stock. Guggenheim dropped their price objective on shares of MBX Biosciences from $84.00 to $77.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, Stifel Nicolaus lifted their target price on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, MBX Biosciences has an average rating of “Moderate Buy” and a consensus price target of $47.22.

MBX Biosciences Stock Performance

The company has a market capitalization of $1.93 billion, a P/E ratio of -17.99 and a beta of 0.86. The stock has a 50 day moving average price of $30.21.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.10.

Insider Buying and Selling at MBX Biosciences

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

Hedge Funds Weigh In On MBX Biosciences

Several large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its position in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in MBX Biosciences in the third quarter valued at approximately $27,000. BNP Paribas Financial Markets increased its stake in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after purchasing an additional 1,567 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in MBX Biosciences in the third quarter valued at approximately $88,000. Finally, Virtus Investment Advisers LLC raised its holdings in MBX Biosciences by 9.6% during the second quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after purchasing an additional 766 shares in the last quarter.

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.