UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 14,106 Shares of MBX Biosciences, Inc. $MBX

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in MBX Biosciences, Inc. (NASDAQ:MBX) by 194.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 21,344 shares of the company’s stock after buying an additional 14,106 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MBX Biosciences were worth $1,178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its position in MBX Biosciences by 30.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company’s stock valued at $2,705,000 after purchasing an additional 21,083 shares during the period. California State Teachers Retirement System lifted its position in shares of MBX Biosciences by 1,197.9% in the 1st quarter. California State Teachers Retirement System now owns 22,765 shares of the company’s stock worth $680,000 after purchasing an additional 21,011 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of MBX Biosciences in the 1st quarter worth approximately $1,396,000. Eventide Asset Management LLC bought a new stake in shares of MBX Biosciences in the 4th quarter valued at $28,071,000. Finally, Candriam S.C.A. bought a new stake in shares of MBX Biosciences in the 1st quarter valued at $8,787,000.

MBX Biosciences Stock Down 3.2%

NASDAQ:MBX opened at $59.02 on Friday. MBX Biosciences, Inc. has a twelve month low of $9.63 and a twelve month high of $72.64. The company has a fifty day moving average of $63.64 and a 200-day moving average of $44.66. The firm has a market capitalization of $2.84 billion, a P/E ratio of -24.49 and a beta of 0.04.

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

Wall Street Analysts Forecast Growth

MBX has been the subject of a number of analyst reports. Barclays reissued an “overweight” rating and set a $88.00 target price on shares of MBX Biosciences in a research note on Friday, August 7th. UBS Group reaffirmed a “buy” rating and set a $90.00 price target on shares of MBX Biosciences in a research report on Thursday, July 23rd. Wall Street Zen downgraded MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a research report on Friday, August 21st. They issued an “overweight” rating and a $88.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research note on Friday, July 17th. One 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 data from MarketBeat.com, MBX Biosciences currently has an average rating of “Moderate Buy” and an average target price of $77.00.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing precision peptide therapies for endocrine and metabolic disorders. The company uses its Precision Empowered Peptide platform to design peptide medicines intended to provide targeted biological activity, extended duration and improved dosing convenience.

MBX’s lead product candidate is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism.