MBX Biosciences (NASDAQ:MBX) Upgraded to “Strong-Buy” at Lifesci Capital

MBX Biosciences (NASDAQ:MBX) was upgraded by investment analysts at Lifesci Capital to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

MBX has been the subject of several other reports. The Goldman Sachs Group assumed coverage on MBX Biosciences in a report on Thursday, December 4th. They issued a “sell” rating and a $18.00 target price for the company. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Finally, Stifel Nicolaus upped their price target on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.56.

MBX Biosciences Price Performance

Shares of MBX stock opened at $32.29 on Tuesday. The company has a market capitalization of $1.53 billion, a P/E ratio of -13.40 and a beta of 1.25. The company’s 50-day simple moving average is $33.60 and its two-hundred day simple moving average is $28.08. MBX Biosciences has a one year low of $4.81 and a one year high of $44.89.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15.

Insider Activity at MBX Biosciences

In other news, CEO P. Kent Hawryluk purchased 18,500 shares of the stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the acquisition, the chief executive officer owned 486,777 shares of the company’s stock, valued at approximately $13,829,334.57. This represents a 3.95% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 52.19% of the company’s stock.

Hedge Funds Weigh In On MBX Biosciences

A number of large investors have recently made changes to their positions in MBX. Russell Investments Group Ltd. boosted its position in shares of MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of MBX Biosciences during the third quarter valued at about $27,000. GF Fund Management CO. LTD. purchased a new position in shares of MBX Biosciences in the 4th quarter valued at approximately $28,000. Royal Bank of Canada boosted its stake in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in MBX Biosciences by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after purchasing an additional 1,567 shares during the last quarter.

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.