BlackRock Inc. Purchases New Position in MBX Biosciences, Inc. $MBX

BlackRock Inc. acquired a new position in MBX Biosciences, Inc. (NASDAQ:MBX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,323,672 shares of the company’s stock, valued at approximately $183,467,000. BlackRock Inc. owned about 0.07% of MBX Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MBX. Wellington Management Group LLP grew its position in MBX Biosciences by 112.8% in the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after acquiring an additional 2,556,708 shares in the last quarter. Deep Track Capital LP boosted its holdings in MBX Biosciences by 43.9% in the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after purchasing an additional 961,408 shares in the last quarter. Vanguard Group Inc. boosted its holdings in MBX Biosciences by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock worth $57,334,000 after purchasing an additional 140,449 shares in the last quarter. Franklin Resources Inc. increased its position in MBX Biosciences by 164.2% during the third quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock worth $22,878,000 after buying an additional 812,436 shares during the last quarter. Finally, MPM Bioimpact LLC raised its holdings in MBX Biosciences by 14.3% during the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock valued at $14,769,000 after buying an additional 161,466 shares in the last quarter.

MBX Biosciences Price Performance

Shares of MBX stock opened at $66.39 on Friday. The stock has a fifty day moving average price of $61.40 and a 200 day moving average price of $42.85. MBX Biosciences, Inc. has a one year low of $9.63 and a one year high of $72.64. The stock has a market cap of $3.20 billion, a P/E ratio of -27.55 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). Equities research analysts anticipate that MBX Biosciences, Inc. will post -3.11 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Mizuho raised their price objective on MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. UBS Group restated a “buy” rating and issued a $90.00 target price on shares of MBX Biosciences in a report on Thursday, July 23rd. Truist Financial upped 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. Finally, Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a research note on Tuesday, May 12th. One investment 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 stock. According to data from MarketBeat.com, MBX Biosciences has a consensus rating of “Moderate Buy” and a consensus target price of $77.00.

About MBX Biosciences

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.