MBX Biosciences (NASDAQ:MBX) Hits New 52-Week High – Should You Buy?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) hit a new 52-week high during trading on Monday . The stock traded as high as $54.86 and last traded at $53.8510, with a volume of 101608 shares changing hands. The stock had previously closed at $52.31.

Analysts Set New Price Targets

MBX has been the topic of several analyst reports. Truist Financial boosted their price target 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. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a research note on Tuesday, May 12th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.22.

MBX Biosciences Stock Up 2.5%

The firm has a market capitalization of $2.63 billion, a PE ratio of -24.98 and a beta of 0.75. The stock has a 50-day simple moving average of $35.86 and a 200-day simple moving average of $34.19.

Institutional Investors Weigh In On MBX Biosciences

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after purchasing an additional 2,556,708 shares during the last quarter. Deep Track Capital LP increased its stake in shares of MBX Biosciences by 43.9% in the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after purchasing an additional 961,408 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of MBX Biosciences by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock worth $57,334,000 after purchasing an additional 140,449 shares in the last quarter. Franklin Resources Inc. raised its position in shares of MBX Biosciences by 164.2% in the third quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock valued at $22,878,000 after purchasing an additional 812,436 shares during the period. Finally, MPM Bioimpact LLC raised its position in shares of MBX Biosciences by 14.3% in the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock valued at $14,769,000 after purchasing an additional 161,466 shares during the period.

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.