MBX Biosciences, Inc. $MBX Shares Acquired by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners LLC increased its stake in MBX Biosciences by 93.1%, owning approximately 0.98% of the company, valued at $2.4 million.
• Multiple brokerages have issued 'outperform' ratings for MBX Biosciences, with a consensus rating of "Buy" and an average price target of $37.63.
• Currently trading at $11.55, MBX Biosciences has seen a significant price fluctuation over the past year, with a low of $4.81 and a high of $27.50.

Parkman Healthcare Partners LLC lifted its position in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 93.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 328,323 shares of the company's stock after buying an additional 158,323 shares during the period. Parkman Healthcare Partners LLC owned approximately 0.98% of MBX Biosciences worth $2,423,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MBX. Wells Fargo & Company MN purchased a new stake in MBX Biosciences during the 4th quarter worth $108,000. MetLife Investment Management LLC acquired a new stake in MBX Biosciences during the fourth quarter worth about $133,000. The Manufacturers Life Insurance Company raised its stake in MBX Biosciences by 7.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company's stock worth $916,000 after acquiring an additional 3,481 shares during the period. Northern Trust Corp acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at approximately $1,671,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at approximately $27,000.

Analyst Ratings Changes

Several brokerages have commented on MBX. Mizuho began coverage on shares of MBX Biosciences in a research note on Tuesday, August 5th. They issued an "outperform" rating and a $38.00 price target on the stock. Oppenheimer assumed coverage on shares of MBX Biosciences in a report on Wednesday, July 16th. 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, According to data from MarketBeat, MBX Biosciences presently has a consensus rating of "Buy" and an average price target of $37.63.

MBX Biosciences Trading Down 10.6%

NYSE:MBX opened at $11.55 on Friday. MBX Biosciences, Inc. has a 1 year low of $4.81 and a 1 year high of $27.50. The firm's fifty day simple moving average is $13.23 and its 200 day simple moving average is $10.98. The firm has a market capitalization of $388.01 million and a PE ratio of -2.54.

MBX Biosciences Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.