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

Key Points

• Sowell Financial Services acquired 53,077 shares of MBX Biosciences in the third quarter, worth approximately $3.1 million and representing about 0.11% of the company.
• Other institutions also increased exposure, including Wellington Management, which raised its position by 55.9% to nearly 5 million shares, while BlackRock and Parkman Healthcare Partners established new stakes.
• MBX shares opened at $55.87, while analysts maintain a consensus “Moderate Buy” rating with an $87 average price target; however, the company recently missed quarterly earnings estimates and remains forecast to post a loss for the fiscal year.

Sowell Financial Services LLC acquired a new stake in MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 53,077 shares of the company's stock, valued at approximately $3,111,000. Sowell Financial Services LLC owned about 0.11% of MBX Biosciences at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MBX. Wellington Management Group LLP lifted its position in MBX Biosciences by 55.9% during the second 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 period. BlackRock Inc. purchased a new stake in shares of MBX Biosciences during the 2nd quarter valued at $183,467,000. Parkman Healthcare Partners LLC purchased a new stake in shares of MBX Biosciences during the 2nd quarter valued at $44,170,000. Stempoint Capital LP raised its position in shares of MBX Biosciences by 535.8% in the 1st quarter. Stempoint Capital LP now owns 499,469 shares of the company's stock worth $14,909,000 after buying an additional 420,916 shares during the period. Finally, Bank of America Corp DE acquired a new position in MBX Biosciences in the second quarter valued at $16,501,000.

MBX Biosciences Stock Performance

Shares of NASDAQ:MBX opened at $55.87 on Friday. The company has a fifty day simple moving average of $57.82 and a 200 day simple moving average of $45.68. MBX Biosciences, Inc. has a 12-month low of $20.21 and a 12-month high of $72.64.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.10). As a group, analysts expect that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MBX. UBS Group reiterated a "buy" rating on shares of MBX Biosciences in a report on Monday, September 28th. JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a research report on Friday, August 21st. They set an "overweight" rating and a $88.00 price target for the company. Wall Street Zen cut MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Truist Financial upped their target price on MBX Biosciences from $70.00 to $88.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of MBX Biosciences in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $87.00.

MBX Biosciences 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.

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