BlackRock Inc. Takes $183.47 Million Position in MBX Biosciences, Inc. $MBX

Key Points

• BlackRock acquired 3.32 million MBX Biosciences shares worth approximately $183.5 million during the second quarter, giving it a 6.98% stake. Several other institutional investors also initiated or increased positions.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $77. JPMorgan, UBS, Barclays and Truist set targets between $88 and $90.
• MBX shares opened at $66.39, near their 52-week high of $72.64, but the clinical-stage biotech reported a quarterly loss of $0.78 per share, missing the $0.68 consensus estimate.

BlackRock Inc. acquired a new stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,323,672 shares of the company's stock, valued at approximately $183,467,000. BlackRock Inc. owned approximately 6.98% of MBX Biosciences as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Deutsche Bank AG acquired a new position in MBX Biosciences during the 2nd quarter valued at about $1,749,000. Bank of New York Mellon Corp bought a new stake in shares of MBX Biosciences during the 2nd quarter worth about $4,909,000. State of Wyoming acquired a new stake in shares of MBX Biosciences in the 2nd quarter worth approximately $58,000. Stempoint Capital LP lifted its stake 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 acquiring an additional 420,916 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of MBX Biosciences in the first quarter valued at approximately $308,000.

Analysts Set New Price Targets

MBX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. began coverage on shares of MBX Biosciences in a research note on Friday, August 21st. They set an "overweight" rating and a $88.00 price objective on the stock. UBS Group reaffirmed a "buy" rating and set a $90.00 price target on shares of MBX Biosciences in a research note on Thursday, July 23rd. Barclays reiterated an "overweight" rating and set a $88.00 price target on shares of MBX Biosciences in a research report on Friday, August 7th. Truist Financial boosted their price objective on MBX Biosciences from $70.00 to $88.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Citigroup restated an "outperform" rating on shares of MBX Biosciences in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $77.00.

MBX Biosciences Stock Performance

MBX Biosciences stock opened at $66.39 on Friday. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of -27.55 and a beta of 0.10. MBX Biosciences, Inc. has a 1 year low of $9.63 and a 1 year high of $72.64. The firm's 50 day moving average price is $61.40 and its two-hundred day moving average price is $42.85.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.10). As a group, equities analysts predict that MBX Biosciences, Inc. will post -3.11 EPS for the current fiscal year.

MBX Biosciences 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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