MBX Biosciences (NASDAQ:MBX) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

MBX Biosciences (NASDAQ:MBX) announced its earnings results on Thursday. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10), FiscalAI reports.

MBX Biosciences Trading Down 1.7%

Shares of NASDAQ MBX traded down $1.11 during mid-day trading on Friday, hitting $66.00. The company had a trading volume of 166,969 shares, compared to its average volume of 695,077. MBX Biosciences has a 1 year low of $9.63 and a 1 year high of $72.64. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of -29.86 and a beta of 0.10. The stock’s 50-day moving average price is $51.47 and its 200-day moving average price is $39.83.

Institutional Investors Weigh In On MBX Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new position in MBX Biosciences during the fourth quarter valued at approximately $28,000. State of Wyoming bought a new position in shares of MBX Biosciences in the second quarter worth $58,000. Russell Investments Group Ltd. raised its position in shares of MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares in the last quarter. Royal Bank of Canada boosted its stake in MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after buying an additional 572 shares during the period. Finally, Strs Ohio grew its position in MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after buying an additional 900 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Mizuho raised their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Citizens Jmp lifted their price target on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. Barclays reissued an “overweight” rating and set a $88.00 price objective on shares of MBX Biosciences in a report on Friday. UBS Group reissued a “buy” rating and issued a $90.00 target price on shares of MBX Biosciences in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, MBX Biosciences has a consensus rating of “Moderate Buy” and an average price target of $73.38.

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.