Affinity Asset Advisors LLC Takes $1.29 Million Position 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 acquired a new position in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 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.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets purchased a new position in shares of MBX Biosciences during the 4th quarter worth about $27,000. Virtus ETF Advisers LLC purchased a new position in shares of MBX Biosciences during the 4th quarter worth about $64,000. New York State Common Retirement Fund purchased a new position in shares of MBX Biosciences during the 1st quarter worth about $32,000. Deutsche Bank AG acquired a new stake in MBX Biosciences during the 4th quarter worth approximately $80,000. Finally, Wells Fargo & Company MN acquired a new stake in MBX Biosciences during the 4th quarter worth approximately $108,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MBX shares. Oppenheimer started coverage on shares of MBX Biosciences in a research report on Wednesday, July 16th. They set an "outperform" rating and a $38.00 target price for the company. Mizuho initiated coverage on shares of MBX Biosciences in a research report on Tuesday, August 5th. They set an "outperform" rating and a $38.00 target price for the company. Eight research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $37.63.

MBX Biosciences Stock Performance

Shares of MBX stock traded up $0.82 during mid-day trading on Friday, reaching $15.09. 154,165 shares of the company were exchanged, compared to its average volume of 324,882. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The company has a market capitalization of $506.93 million and a P/E ratio of -3.32. The business's 50 day simple moving average is $12.95 and its 200 day simple moving average is $10.85.

About MBX Biosciences

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.