Wall Street Zen Upgrades MBX Biosciences (NASDAQ:MBX) to “Hold”

MBX Biosciences (NASDAQ:MBX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

MBX has been the subject of a number of other research reports. UBS Group reissued a “buy” rating and set a $90.00 target price on shares of MBX Biosciences in a research note on Thursday, July 23rd. Stifel Nicolaus set a $56.00 price target on shares of MBX Biosciences in a research report on Tuesday, May 12th. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Citizens Jmp increased their price target on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. Finally, Barclays lifted their price objective on MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.12.

MBX Biosciences Stock Up 6.5%

Shares of MBX Biosciences stock opened at $63.96 on Tuesday. MBX Biosciences has a twelve month low of $9.63 and a twelve month high of $66.66. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -28.94 and a beta of 0.16. The company’s fifty day moving average is $47.25 and its 200 day moving average is $38.61.

Institutional Inflows and Outflows

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

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.