MBX Biosciences (NASDAQ:MBX) Announces Earnings Results

MBX Biosciences (NASDAQ:MBX) issued its quarterly earnings data on Monday. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.80) by ($0.49), FiscalAI reports.

MBX Biosciences Stock Up 1.1%

Shares of NASDAQ:MBX traded up $0.61 during midday trading on Wednesday, reaching $56.94. 206,706 shares of the company traded hands, compared to its average volume of 639,326. The firm’s fifty day moving average price is $56.08 and its two-hundred day moving average price is $46.10. MBX Biosciences has a 12 month low of $23.07 and a 12 month high of $72.64. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of -18.59 and a beta of 0.17.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MBX shares. Guggenheim boosted their target price on shares of MBX Biosciences from $88.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 2nd. UBS Group restated a “buy” rating on shares of MBX Biosciences in a report on Monday, September 28th. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a report on Friday, August 21st. They set an “overweight” rating and a $88.00 price target for the company. Barclays restated an “overweight” rating and issued a $88.00 target price on shares of MBX Biosciences in a research note on Friday, August 7th. Finally, Truist Financial raised their price objective on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, August 10th. One equities research 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 company. According to MarketBeat.com, MBX Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of MBX Biosciences by 55.9% in the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock worth $274,759,000 after buying an additional 1,785,699 shares during the last quarter. BlackRock Inc. purchased a new position in shares of MBX Biosciences in the second quarter worth $183,467,000. Parkman Healthcare Partners LLC bought a new position in shares of MBX Biosciences during the second quarter valued at about $44,170,000. Stempoint Capital LP raised its position in MBX Biosciences by 535.8% during the 1st quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock valued at $14,909,000 after purchasing an additional 420,916 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in MBX Biosciences in the second quarter worth $16,501,000.

MBX Biosciences Company Profile

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.