Oppenheimer Begins Coverage on MBX Biosciences (NYSE:MBX)

Analysts at Oppenheimer assumed coverage on shares of MBX Biosciences (NYSE:MBX) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm set an “outperform” rating and a $38.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 202.55% from the company’s previous close.

Several other equities analysts have also commented on the stock. JMP Securities initiated coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They set a “market outperform” rating and a $38.00 price target for the company. Guggenheim restated a “buy” rating and set a $44.00 price target on shares of MBX Biosciences in a research report on Thursday, April 10th. Finally, Citizens Jmp initiated coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They set an “outperform” rating and a $38.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $37.57.

MBX Biosciences Stock Up 3.0%

MBX stock traded up $0.36 during trading on Wednesday, hitting $12.56. 17,034 shares of the company’s stock traded hands, compared to its average volume of 298,717. MBX Biosciences has a 52 week low of $4.81 and a 52 week high of $27.50. The stock has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $10.66.

Institutional Trading of MBX Biosciences

A number of hedge funds have recently bought and sold shares of MBX. MPM Bioimpact LLC purchased a new stake in MBX Biosciences during the first quarter valued at about $8,361,000. Driehaus Capital Management LLC lifted its stake in MBX Biosciences by 61.2% during the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company’s stock valued at $29,152,000 after buying an additional 600,438 shares in the last quarter. Woodline Partners LP lifted its stake in MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company’s stock valued at $6,476,000 after buying an additional 268,740 shares in the last quarter. Geode Capital Management LLC lifted its stake in MBX Biosciences by 1,093.2% during the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company’s stock valued at $4,898,000 after buying an additional 243,434 shares in the last quarter. Finally, Affinity Asset Advisors LLC purchased a new stake in MBX Biosciences during the first quarter valued at about $1,292,000.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.