Franklin Resources Inc. Invests $11.69 Million in MBX Biosciences, Inc. (NYSE:MBX)

Franklin Resources Inc. bought a new stake in shares of MBX Biosciences, Inc. (NYSE:MBX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 450,000 shares of the company’s stock, valued at approximately $11,691,000. Franklin Resources Inc. owned about 1.35% of MBX Biosciences as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in MBX Biosciences in the 3rd quarter worth approximately $278,000. Point72 Asset Management L.P. bought a new position in shares of MBX Biosciences in the third quarter worth approximately $405,000. Barclays PLC purchased a new position in shares of MBX Biosciences in the third quarter worth $426,000. Geode Capital Management LLC bought a new stake in MBX Biosciences during the 3rd quarter valued at $579,000. Finally, Point72 DIFC Ltd purchased a new stake in MBX Biosciences during the 3rd quarter valued at $624,000.

MBX Biosciences Stock Performance

Shares of MBX opened at $20.36 on Friday. MBX Biosciences, Inc. has a 1-year low of $15.31 and a 1-year high of $27.50. The company’s 50-day moving average is $21.04.

MBX Biosciences (NYSE:MBX) last posted its earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.06). Research analysts expect that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MBX. Jefferies Financial Group initiated coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 price objective on the stock. Guggenheim began coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $44.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $40.00 target price on the stock.

MBX Biosciences Profile

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.