MBX Biosciences (NASDAQ:MBX) Hits New 12-Month High – Should You Buy?

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $46.01 and last traded at $43.9450, with a volume of 201790 shares traded. The stock had previously closed at $43.03.

Analyst Ratings Changes

A number of analysts have issued reports on MBX shares. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Barclays raised their price target on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Truist Financial upped their price objective on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Wall Street Zen downgraded shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. One investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Price Performance

The company has a market cap of $2.13 billion, a price-to-earnings ratio of -20.26 and a beta of 0.75. The firm has a fifty day simple moving average of $33.44 and a 200 day simple moving average of $33.27.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MBX. Hudson Bay Capital Management LP acquired a new position in MBX Biosciences during the 3rd quarter worth $1,488,000. Ghisallo Capital Management LLC bought a new position in shares of MBX Biosciences in the third quarter worth about $669,000. Aaron Wealth Advisors LLC increased its stake in shares of MBX Biosciences by 40.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock worth $2,208,000 after purchasing an additional 20,000 shares during the period. Goelzer Investment Management Inc. acquired a new position in shares of MBX Biosciences during the 4th quarter worth about $6,992,000. Finally, Baker BROS. Advisors LP acquired a new position in shares of MBX Biosciences during the 3rd quarter worth about $4,861,000.

About MBX Biosciences

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.