California State Teachers Retirement System Purchases 21,011 Shares of MBX Biosciences, Inc. $MBX

Key Points

• California State Teachers Retirement System increased its MBX Biosciences position by 1,197.9%, purchasing 21,011 shares to hold 22,765 shares worth approximately $680,000. Several other institutional investors also raised their stakes.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $75.62; Mizuho and Truist recently raised their targets to $91 and $88, respectively.
• MBX shares opened at $68.57 after rising 2.2%, near their 52-week high of $72.64. The clinical-stage biopharmaceutical company reported a quarterly loss of $0.78 per share, missing estimates of a $0.68 loss.

California State Teachers Retirement System lifted its holdings in MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) by 1,197.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,765 shares of the company's stock after purchasing an additional 21,011 shares during the quarter. California State Teachers Retirement System's holdings in MBX Biosciences were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in shares of MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company's stock worth $26,000 after buying an additional 1,446 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in MBX Biosciences in the fourth quarter valued at about $28,000. Strs Ohio lifted its holdings in MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company's stock valued at $48,000 after acquiring an additional 900 shares during the period. Royal Bank of Canada boosted its position in MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company's stock worth $49,000 after purchasing an additional 572 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company's stock worth $51,000 after purchasing an additional 1,567 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MBX. Mizuho lifted their price target on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. Wall Street Zen lowered MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Citigroup reiterated an "outperform" rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Truist Financial boosted their price target on MBX Biosciences from $70.00 to $88.00 and gave the company a "buy" rating in a report on Monday. Finally, Barclays reaffirmed an "overweight" rating and issued a $88.00 price objective on shares of MBX Biosciences in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $75.62.

MBX Biosciences Stock Up 2.2%

MBX Biosciences stock opened at $68.57 on Friday. MBX Biosciences, Inc. has a 52-week low of $9.63 and a 52-week high of $72.64. The firm's fifty day moving average is $55.85 and its 200 day moving average is $40.94. The company has a market cap of $3.30 billion, a price-to-earnings ratio of -28.45 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its earnings results 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). On average, equities research analysts anticipate that MBX Biosciences, Inc. will post -3.12 earnings per share 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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