MBX Biosciences, Inc. (NASDAQ:MBX) Short Interest Update

MBX Biosciences, Inc. (NASDAQ:MBX) was the target of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 2,307,824 shares, a drop of 40.0% from the December 31st total of 3,843,943 shares. Approximately 5.1% of the company’s stock are short sold. Based on an average daily volume of 800,131 shares, the short-interest ratio is currently 2.9 days. Based on an average daily volume of 800,131 shares, the short-interest ratio is currently 2.9 days. Approximately 5.1% of the company’s stock are short sold.

Wall Street Analyst Weigh In

MBX has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. Stifel Nicolaus boosted their price target on MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 19th. The Goldman Sachs Group initiated coverage on MBX Biosciences in a report on Thursday, December 4th. They set a “sell” rating and a $18.00 target price for the company. TD Cowen began coverage on shares of MBX Biosciences in a research report on Tuesday, November 4th. They set a “buy” rating for the company. Finally, Guggenheim increased their price objective on shares of MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Eleven investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $50.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. TD Asset Management Inc boosted its position in shares of MBX Biosciences by 13.1% during the 2nd quarter. TD Asset Management Inc now owns 171,304 shares of the company’s stock worth $1,955,000 after purchasing an additional 19,800 shares in the last quarter. Koa Wealth Management LLC grew its position in MBX Biosciences by 63.7% during the second quarter. Koa Wealth Management LLC now owns 31,752 shares of the company’s stock worth $362,000 after buying an additional 12,356 shares during the period. Geode Capital Management LLC increased its holdings in MBX Biosciences by 27.0% in the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after buying an additional 73,989 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of MBX Biosciences by 33.0% during the 2nd quarter. Intech Investment Management LLC now owns 14,271 shares of the company’s stock worth $163,000 after acquiring an additional 3,543 shares in the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of MBX Biosciences in the 2nd quarter worth approximately $389,000.

MBX Biosciences Stock Performance

MBX stock opened at $36.62 on Friday. The stock has a market cap of $1.64 billion, a P/E ratio of -15.32 and a beta of 0.86. MBX Biosciences has a 12 month low of $4.81 and a 12 month high of $44.89. The firm has a fifty day simple moving average of $33.26.

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

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.