Legal & General Group Plc Makes New $1.19 Million Investment in MBX Biosciences, Inc. $MBX

Legal & General Group Plc acquired a new position in shares of MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 21,583 shares of the company's stock, valued at approximately $1,191,000.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new position in MBX Biosciences in the 2nd quarter worth $3,649,000. Group One Trading LLC acquired a new position in shares of MBX Biosciences in the second quarter valued at about $289,000. Algert Global LLC increased its holdings in shares of MBX Biosciences by 16.8% in the second quarter. Algert Global LLC now owns 42,070 shares of the company's stock valued at $2,322,000 after purchasing an additional 6,050 shares during the period. Quantbot Technologies LP purchased a new position in shares of MBX Biosciences in the second quarter worth about $213,000. Finally, BlackRock Inc. acquired a new stake in shares of MBX Biosciences during the second quarter worth about $183,467,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group reiterated a "buy" rating and issued a $90.00 target price on shares of MBX Biosciences in a research report on Thursday, July 23rd. Truist Financial raised their price target on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Citigroup restated an "outperform" rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Citizens Jmp upped their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a "market outperform" rating in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.00.

MBX Biosciences Stock Performance

Shares of NASDAQ MBX opened at $61.72 on Tuesday. The firm has a market cap of $2.97 billion, a PE ratio of -25.61 and a beta of 0.04. The firm has a fifty day moving average of $63.26 and a 200 day moving average of $44.04. MBX Biosciences, Inc. has a one year low of $9.63 and a one year high of $72.64.

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 (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, equities analysts predict that MBX Biosciences, Inc. will post -3.11 EPS for the current fiscal year.

About MBX Biosciences

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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