MBX Biosciences (NASDAQ:MBX) Sets New 1-Year High – Still a Buy?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $34.83 and last traded at $33.4350, with a volume of 255175 shares trading hands. The stock had previously closed at $33.82.

Analyst Ratings Changes

MBX has been the subject of several analyst reports. Guggenheim lowered their price objective on MBX Biosciences from $84.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Wednesday, October 8th. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. TD Cowen initiated coverage on MBX Biosciences in a research report on Tuesday, November 4th. They set a “buy” rating for the company. Finally, Citigroup restated an “outperform” rating on shares of MBX Biosciences in a report on Monday, September 22nd. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, MBX Biosciences has an average rating of “Moderate Buy” and a consensus price target of $49.50.

MBX Biosciences Price Performance

The company has a market cap of $1.54 billion, a price-to-earnings ratio of -14.33 and a beta of 0.71. The business has a 50 day moving average price of $20.79.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.10.

Insider Buying and Selling

In other MBX Biosciences news, Director Patrick J. Heron purchased 666,666 shares of MBX Biosciences stock in a transaction dated Friday, September 26th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $11,999,988.00. Following the acquisition, the director owned 5,219,440 shares in the company, valued at $93,949,920. This trade represents a 14.64% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO P. Kent Hawryluk acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were acquired at an average cost of $13.64 per share, for a total transaction of $272,800.00. Following the completion of the acquisition, the chief executive officer owned 468,277 shares of the company’s stock, valued at $6,387,298.28. This trade represents a 4.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 706,666 shares of company stock valued at $12,537,788 over the last three months.

Institutional Trading of MBX Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in shares of 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 last quarter. BNP Paribas Financial Markets grew its holdings in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after purchasing an additional 1,567 shares during the last quarter. Deutsche Bank AG increased its position in shares of MBX Biosciences by 102.0% during the first quarter. Deutsche Bank AG now owns 8,762 shares of the company’s stock worth $65,000 after purchasing an additional 4,424 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of MBX Biosciences during the 3rd quarter valued at $88,000. Finally, Wealthedge Investment Advisors LLC acquired a new stake in shares of MBX Biosciences in the 1st quarter worth $88,000.

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.