MBX Biosciences (NASDAQ:MBX) Sees Unusually-High Trading Volume – Should You Buy?

MBX Biosciences, Inc. (NASDAQ:MBX) shares saw an uptick in trading volume on Thursday . 822,333 shares traded hands during mid-day trading, an increase of 34% from the previous session’s volume of 614,322 shares.The stock last traded at $33.3220 and had previously closed at $30.99.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MBX. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Barclays boosted their price target on MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Truist Financial boosted 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. Finally, Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.22.

MBX Biosciences Stock Performance

The company has a 50-day simple moving average of $32.49 and a 200-day simple moving average of $32.97. The company has a market cap of $1.69 billion, a price-to-earnings ratio of -16.07 and a beta of 0.75.

MBX Biosciences (NASDAQ:MBX) last released its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.15. As a group, equities research analysts forecast that MBX Biosciences, Inc. will post -2.84 EPS for the current year.

Hedge Funds Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its position in 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 purchasing an additional 1,446 shares during the period. FNY Investment Advisers LLC acquired a new position in MBX Biosciences during the 3rd quarter worth approximately $27,000. GF Fund Management CO. LTD. acquired a new position in MBX Biosciences during the 4th quarter worth approximately $28,000. Strs Ohio increased its position in MBX Biosciences by 128.6% during 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. Finally, Royal Bank of Canada increased its position in MBX Biosciences by 59.6% during 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 during the period.

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.