Wall Street Zen Downgrades MBX Biosciences (NASDAQ:MBX) to Sell

MBX Biosciences (NASDAQ:MBX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Monday.

A number of other brokerages have also recently issued reports on MBX. Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a report on Tuesday, May 12th. Citizens Jmp boosted their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. Truist Financial raised their target price on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Barclays lifted their target price 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. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

MBX Biosciences Price Performance

Shares of NASDAQ:MBX opened at $60.28 on Monday. The business has a 50-day moving average of $43.83 and a two-hundred day moving average of $37.30. The firm has a market capitalization of $2.87 billion, a PE ratio of -27.28 and a beta of 0.16. MBX Biosciences has a 12 month low of $9.63 and a 12 month high of $66.55.

Institutional Trading of MBX Biosciences

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in shares of 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 period. Deep Track Capital LP boosted 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 valued at $55,125,000 after purchasing an additional 961,408 shares during the period. Vanguard Group Inc. grew its holdings in MBX Biosciences by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock valued at $57,334,000 after purchasing an additional 140,449 shares in the last quarter. Franklin Resources Inc. grew its holdings in MBX Biosciences by 164.2% during the 3rd 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 in the last quarter. Finally, MPM Bioimpact LLC increased its stake in MBX Biosciences by 14.3% during the 2nd quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock worth $14,769,000 after buying 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.