MBX Biosciences (NASDAQ:MBX) Posts Earnings Results, Misses Expectations By $0.49 EPS

MBX Biosciences (NASDAQ:MBX) released its quarterly earnings data on Monday. The company reported ($1.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.49), FiscalAI reports.

MBX Biosciences Trading Up 5.3%

MBX Biosciences stock traded up $2.71 on Monday, hitting $54.06. 666,073 shares of the stock traded hands, compared to its average volume of 639,135. MBX Biosciences has a 1 year low of $23.07 and a 1 year high of $72.64. The firm has a market cap of $2.60 billion, a P/E ratio of -22.43 and a beta of 0.17. The business’s fifty day simple moving average is $56.19 and its 200 day simple moving average is $46.03.

Hedge Funds Weigh In On MBX Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in MBX. Strs Ohio lifted its holdings in shares of MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after purchasing an additional 900 shares during the last quarter. Sterling Capital Management LLC grew its stake in shares of MBX Biosciences by 847.7% in the 3rd quarter. Sterling Capital Management LLC now owns 1,033 shares of the company’s stock worth $61,000 after buying an additional 924 shares during the last quarter. State of Wyoming purchased a new stake in shares of MBX Biosciences in the 2nd quarter worth approximately $58,000. Sei Investments Co. grew its stake in shares of MBX Biosciences by 17.4% in the 1st quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock worth $268,000 after buying an additional 1,332 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of MBX Biosciences during the third quarter valued at $144,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MBX shares. JPMorgan Chase & Co. started coverage on shares of MBX Biosciences in a research note on Friday, August 21st. They set an “overweight” rating and a $88.00 price objective for the company. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research report on Monday, September 28th. Citigroup restated a “market outperform” rating on shares of MBX Biosciences in a report on Tuesday, October 27th. Mizuho raised their target price on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Truist Financial raised their target price on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $87.00.

MBX Biosciences Company Profile

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately.

MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.

Based in Carmel, Indiana, MBX Biosciences is advancing a pipeline of investigational therapies.