The Manufacturers Life Insurance Company Makes New Investment in MBX Biosciences, Inc. $MBX

The Manufacturers Life Insurance Company acquired a new position in shares of MBX Biosciences, Inc. (NASDAQ:MBX) during the second quarter, HoldingsChannel.com reports. The firm acquired 66,112 shares of the company’s stock, valued at approximately $3,649,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Group One Trading LLC acquired a new position in MBX Biosciences in the second quarter valued at approximately $289,000. Algert Global LLC raised its position in MBX Biosciences by 16.8% in the second quarter. Algert Global LLC now owns 42,070 shares of the company’s stock valued at $2,322,000 after purchasing an additional 6,050 shares during the period. Quantbot Technologies LP acquired a new position in shares of MBX Biosciences in the 2nd quarter valued at $213,000. BlackRock Inc. purchased a new position in shares of MBX Biosciences during the 2nd quarter worth $183,467,000. Finally, Deutsche Bank AG purchased a new position in shares of MBX Biosciences during the 2nd quarter worth $1,749,000.

MBX Biosciences Stock Performance

Shares of MBX Biosciences stock opened at $60.93 on Wednesday. The business has a 50-day simple moving average of $62.44 and a 200-day simple moving average of $43.39. The company has a market cap of $2.93 billion, a PE ratio of -25.28 and a beta of 0.04. MBX Biosciences, Inc. has a one year low of $9.63 and a one year high of $72.64.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). On average, sell-side analysts predict that MBX Biosciences, Inc. will post -3.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MBX. Citizens Jmp boosted their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Wall Street Zen lowered shares of MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, UBS Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of MBX Biosciences in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.00.

MBX Biosciences 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.