MBX Biosciences (NASDAQ:MBX) Stock Price Up 6.3% – What’s Next?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) were up 6.3% during trading on Monday. The stock traded as high as $53.06 and last traded at $52.74. Approximately 194,748 shares changed hands during trading, a decline of 70% from the average daily volume of 648,550 shares. The stock had previously closed at $49.61.

Analyst Upgrades and Downgrades

MBX has been the subject of several research analyst reports. Mizuho upped their price target on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Barclays reissued an “overweight” rating and set a $88.00 price objective on shares of MBX Biosciences in a research report on Friday, August 7th. JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a report on Friday, August 21st. They set an “overweight” rating and a $88.00 price objective on the stock. Stifel Nicolaus boosted their price objective on shares of MBX Biosciences from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.00.

MBX Biosciences Stock Up 1.9%

The company has a fifty day moving average price of $60.08 and a two-hundred day moving average price of $49.69.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). On average, sell-side analysts expect that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of MBX. BlackRock Inc. acquired a new position in shares of MBX Biosciences during the 2nd quarter worth approximately $183,467,000. Wellington Management Group LLP raised its stake in MBX Biosciences by 55.9% in the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock valued at $274,759,000 after acquiring an additional 1,785,699 shares during the period. Aaron Wealth Advisors LLC raised its stake 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 acquiring an additional 1,098,176 shares during the period. Parkman Healthcare Partners LLC acquired a new stake in MBX Biosciences during the 2nd quarter valued at $44,170,000. Finally, Stempoint Capital LP lifted its holdings in MBX Biosciences by 535.8% during the 1st quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock valued at $14,909,000 after purchasing an additional 420,916 shares during the last quarter.

MBX Biosciences Company Profile

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Plus peptide engineering platform to design medicines intended to provide targeted biological activity, longer duration and more convenient dosing than conventional peptide treatments.

MBX Biosciences’ lead program is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone and has difficulty maintaining normal calcium levels.