MBX Biosciences (NASDAQ:MBX) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen downgraded shares of MBX Biosciences (NASDAQ:MBX) from a hold rating to a sell rating in a research report released on Saturday.

A number of other research analysts also recently issued reports on the stock. UBS Group restated a “buy” rating and set a $90.00 target price on shares of MBX Biosciences in a research report on Thursday, July 23rd. 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 research report on Tuesday, May 12th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Barclays restated an “overweight” rating and issued a $88.00 price objective on shares of MBX Biosciences in a report on Friday. Finally, Truist Financial raised their price objective on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.38.

MBX Biosciences Stock Performance

NASDAQ MBX opened at $67.82 on Friday. The stock has a market capitalization of $3.23 billion, a P/E ratio of -28.14 and a beta of 0.10. MBX Biosciences has a 52 week low of $9.63 and a 52 week high of $72.64. The stock has a fifty day moving average of $52.20 and a 200-day moving average of $40.03.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Equities research analysts forecast that MBX Biosciences will post -2.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBX. Geode Capital Management LLC increased its stake in shares of MBX Biosciences by 27.0% in the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after acquiring an additional 73,989 shares during the last quarter. Rhumbline Advisers raised its position in shares of MBX Biosciences by 171.6% in the 2nd quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock valued at $270,000 after acquiring an additional 14,950 shares during the period. XTX Topco Ltd bought a new position in MBX Biosciences during the 2nd quarter worth approximately $135,000. The Manufacturers Life Insurance Company grew its holdings in MBX Biosciences by 73.8% during the second quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock valued at $994,000 after purchasing an additional 36,987 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MBX Biosciences by 40.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after purchasing an additional 2,682 shares in 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.