MBX Biosciences (NASDAQ:MBX) Hits New 52-Week High – Still a Buy?

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) reached a new 52-week high on Monday . The stock traded as high as $58.58 and last traded at $58.00, with a volume of 1419 shares traded. The stock had previously closed at $57.80.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a report on Tuesday, May 12th. Citizens Jmp increased their target price on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, MBX Biosciences currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.22.

MBX Biosciences Trading Up 0.2%

The stock has a market capitalization of $2.76 billion, a P/E ratio of -26.16 and a beta of 0.16. The business has a 50-day moving average price of $37.28 and a two-hundred day moving average price of $34.79.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of MBX Biosciences by 27.0% during the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock worth $3,976,000 after acquiring an additional 73,989 shares during the period. Rhumbline Advisers increased its stake in MBX Biosciences by 171.6% in the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock valued at $270,000 after acquiring an additional 14,950 shares during the last quarter. XTX Topco Ltd acquired a new position in MBX Biosciences during the second quarter valued at approximately $135,000. The Manufacturers Life Insurance Company raised its position in MBX Biosciences by 73.8% during the second quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock valued at $994,000 after purchasing an additional 36,987 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock worth $106,000 after purchasing an additional 2,682 shares during the last quarter.

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.