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

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

Several other equities analysts have also recently issued reports on the stock. Barclays began coverage on shares of MBX Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price objective on the stock. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Finally, Stifel Nicolaus raised their target price on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $53.25.

MBX Biosciences Price Performance

Shares of MBX opened at $31.00 on Friday. The firm’s 50 day moving average is $32.81 and its 200-day moving average is $29.01. The stock has a market capitalization of $1.47 billion, a P/E ratio of -12.86 and a beta of 1.25. MBX Biosciences has a 12-month low of $6.34 and a 12-month high of $44.89.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.15.

Insider Activity at MBX Biosciences

In other news, CEO P. Kent Hawryluk bought 18,500 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was bought at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the acquisition, the chief executive officer directly owned 486,777 shares in the company, valued at $13,829,334.57. This represents a 3.95% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 52.19% of the stock is currently owned by insiders.

Institutional Trading of MBX Biosciences

Institutional investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP acquired a new stake in shares of MBX Biosciences during the third quarter worth approximately $1,488,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of MBX Biosciences during the third quarter worth approximately $498,000. Baker BROS. Advisors LP acquired a new stake in shares of MBX Biosciences during the third quarter worth approximately $4,861,000. Ghisallo Capital Management LLC acquired a new stake in shares of MBX Biosciences during the third quarter worth approximately $669,000. Finally, Goelzer Investment Management Inc. acquired a new stake in shares of MBX Biosciences during the fourth quarter worth approximately $6,992,000.

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.