Deutsche Bank AG Takes $1.75 Million Position in MBX Biosciences, Inc. $MBX

Key Points

• Deutsche Bank acquired a new MBX Biosciences stake worth approximately $1.75 million, purchasing 31,693 shares and holding about 0.07% of the company.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $77; Barclays and JPMorgan both set $88 targets.
• MBX shares opened at $63 after recently trading down 5.1%, while the company reported a quarterly loss of $0.78 per share, missing estimates of a $0.68 loss.

Deutsche Bank AG acquired a new stake in MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 31,693 shares of the company's stock, valued at approximately $1,749,000. Deutsche Bank AG owned 0.07% of MBX Biosciences at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its position in shares of MBX Biosciences by 30.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company's stock worth $2,705,000 after acquiring an additional 21,083 shares in the last quarter. California State Teachers Retirement System lifted its stake in MBX Biosciences by 1,197.9% during the first quarter. California State Teachers Retirement System now owns 22,765 shares of the company's stock worth $680,000 after purchasing an additional 21,011 shares during the last quarter. Candriam S.C.A. acquired a new position in MBX Biosciences in the first quarter valued at approximately $8,787,000. Eventide Asset Management LLC acquired a new position in MBX Biosciences in the fourth quarter valued at approximately $28,071,000. Finally, Dimensional Fund Advisors LP purchased a new position in MBX Biosciences in the first quarter valued at approximately $1,396,000.

Analysts Set New Price Targets

A number of research firms recently commented on MBX. Barclays reaffirmed an "overweight" rating and issued a $88.00 target price on shares of MBX Biosciences in a research report on Friday, August 7th. JPMorgan Chase & Co. began coverage on shares of MBX Biosciences in a research note on Friday, August 21st. They issued an "overweight" rating and a $88.00 price objective for the company. Citigroup reaffirmed an "outperform" rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Wall Street Zen cut MBX Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Citizens Jmp boosted their target price on MBX Biosciences from $76.00 to $86.00 and gave the company a "market outperform" rating in a report on Tuesday, May 12th. One 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.00.

MBX Biosciences Trading Down 5.1%

NASDAQ:MBX opened at $63.00 on Friday. MBX Biosciences, Inc. has a 12-month low of $9.63 and a 12-month high of $72.64. The stock's 50 day simple moving average is $61.80 and its 200-day simple moving average is $42.99. The firm has a market cap of $3.03 billion, a P/E ratio of -26.14 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.10). Research analysts forecast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source