Affinity Asset Advisors LLC Buys New Holdings in MBX Biosciences, Inc. $MBX

Key Points

• Affinity Asset Advisors LLC acquired 175,000 shares of MBX Biosciences, valued at approximately $1.29 million, representing 0.52% of the company.
• MBX Biosciences' stock recently fell by 3.1%, with a current market cap of $466.62 million, and its share price ranged from $4.81 to $27.50 over the past year.
• Analysts have given MBX Biosciences an average rating of "Buy" with a target price of $37.63, following positive ratings from Oppenheimer and Mizuho.

Affinity Asset Advisors LLC bought a new position in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 175,000 shares of the company's stock, valued at approximately $1,292,000. Affinity Asset Advisors LLC owned 0.52% of MBX Biosciences at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MBX. BNP Paribas Financial Markets purchased a new position in MBX Biosciences during the fourth quarter worth about $27,000. New York State Common Retirement Fund purchased a new position in MBX Biosciences during the first quarter worth about $32,000. Virtus ETF Advisers LLC purchased a new position in MBX Biosciences during the fourth quarter worth about $64,000. Deutsche Bank AG boosted its stake in MBX Biosciences by 102.0% during the first quarter. Deutsche Bank AG now owns 8,762 shares of the company's stock worth $65,000 after buying an additional 4,424 shares during the period. Finally, Wealthedge Investment Advisors LLC purchased a new position in MBX Biosciences during the first quarter worth about $88,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of MBX Biosciences in a research note on Wednesday, July 16th. They set an "outperform" rating and a $38.00 target price for the company. Mizuho began coverage on shares of MBX Biosciences in a research report on Tuesday, August 5th. They set an "outperform" rating and a $38.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating, According to MarketBeat.com, MBX Biosciences has an average rating of "Buy" and a consensus price target of $37.63.

MBX Biosciences Stock Performance

Shares of MBX traded up $0.82 during mid-day trading on Friday, hitting $15.09. 154,165 shares of the company's stock were exchanged, compared to its average volume of 324,882. The company has a market cap of $506.93 million and a price-to-earnings ratio of -3.32. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The stock's 50-day moving average is $12.95 and its 200-day moving average is $10.87.

MBX Biosciences Profile

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.