53,077 Shares in MBX Biosciences, Inc. $MBX Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC bought a new stake in MBX Biosciences, Inc. (NASDAQ:MBX) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 53,077 shares of the company’s stock, valued at approximately $3,111,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System purchased a new position in MBX Biosciences during the second quarter worth approximately $326,000. AXQ Capital LP purchased a new stake in shares of MBX Biosciences during the 2nd quarter valued at $428,000. Moore Capital Management LP purchased a new stake in shares of MBX Biosciences during the 2nd quarter valued at $3,582,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of MBX Biosciences by 194.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,344 shares of the company’s stock valued at $1,178,000 after buying an additional 14,106 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of MBX Biosciences by 55.9% during the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock worth $274,759,000 after buying an additional 1,785,699 shares during the last quarter.

MBX Biosciences Trading Up 0.8%

Shares of MBX stock opened at $53.93 on Thursday. The firm has a fifty day simple moving average of $59.82 and a 200-day simple moving average of $49.84. The company has a market capitalization of $2.60 billion, a PE ratio of -22.38 and a beta of 0.10. MBX Biosciences, Inc. has a twelve month low of $14.61 and a twelve month high of $72.64.

MBX Biosciences (NASDAQ:MBX) last released its quarterly 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). Equities research analysts predict that MBX Biosciences, Inc. will post -3.10 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on MBX shares. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, October 15th. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research note on Friday, August 21st. They issued an “overweight” rating and a $88.00 price objective on the stock. Barclays reiterated an “overweight” rating and set a $88.00 target price on shares of MBX Biosciences in a report on Friday, August 7th. Guggenheim boosted their target price on MBX Biosciences from $88.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Finally, Stifel Nicolaus increased their target price on shares of MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.

MBX Biosciences Company Profile

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Plus peptide engineering platform to design medicines intended to provide targeted biological activity, longer duration and more convenient dosing than conventional peptide treatments.

MBX Biosciences’ lead program is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone and has difficulty maintaining normal calcium levels.