800,173 Shares in MBX Biosciences, Inc. $MBX Purchased by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners purchased 800,173 MBX Biosciences shares worth approximately $44.2 million, making MBX its largest portfolio holding and giving it a 1.66% stake.
• Analyst sentiment remains broadly positive: MBX has a consensus “Moderate Buy” rating and an average price target of $77, despite one analyst maintaining a sell rating.
• MBX opened at $66.39, near its 52-week high of $72.64, but reported a quarterly loss of $0.78 per share, missing estimates by $0.10.

Parkman Healthcare Partners LLC purchased a new stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 800,173 shares of the company's stock, valued at approximately $44,170,000. MBX Biosciences comprises about 4.5% of Parkman Healthcare Partners LLC's investment portfolio, making the stock its largest position. Parkman Healthcare Partners LLC owned about 1.66% of MBX Biosciences at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of MBX Biosciences by 27.0% in the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company's stock valued at $3,976,000 after acquiring an additional 73,989 shares during the last quarter. Rhumbline Advisers increased its holdings in MBX Biosciences by 171.6% during the 2nd quarter. Rhumbline Advisers now owns 23,662 shares of the company's stock valued at $270,000 after purchasing an additional 14,950 shares in the last quarter. XTX Topco Ltd acquired a new stake in MBX Biosciences during the 2nd quarter valued at $135,000. The Manufacturers Life Insurance Company raised its position in MBX Biosciences by 73.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company's stock valued at $994,000 after purchasing an additional 36,987 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in MBX Biosciences by 40.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company's stock valued at $106,000 after purchasing an additional 2,682 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MBX shares. Citigroup restated an "outperform" rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Citizens Jmp upped their price target on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a "market outperform" rating in a research report on Tuesday, May 12th. Barclays reissued an "overweight" rating and set a $88.00 price objective on shares of MBX Biosciences in a report on Friday, August 7th. Mizuho raised their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MBX Biosciences in a research note on Friday, July 17th. One equities research 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

MBX Biosciences Stock Up 0.1%

MBX stock opened at $66.39 on Tuesday. The company has a market cap of $3.20 billion, a P/E ratio of -27.55 and a beta of 0.10. MBX Biosciences, Inc. has a twelve month low of $9.63 and a twelve month high of $72.64. The business has a fifty day moving average of $59.86 and a 200-day moving average of $42.22.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last issued 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). As a group, equities research analysts anticipate that MBX Biosciences, Inc. will post -3.12 earnings per share for the current fiscal year.

MBX Biosciences Company Profile

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.

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