MBX Biosciences, Inc. $MBX Stock Holdings Raised by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its MBX Biosciences stake by 30.3% in the first quarter, holding 90,634 shares worth approximately $2.7 million. Several other institutional investors also expanded their positions.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $73.38; targets range from $56 to $90.
• MBX shares opened at $67.82, near their 52-week high of $72.64, but the company recently reported a quarterly loss of $0.78 per share, missing the consensus estimate of a $0.68 loss.

The Manufacturers Life Insurance Company grew its stake in MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) by 30.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,634 shares of the company's stock after purchasing an additional 21,083 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.19% of MBX Biosciences worth $2,705,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MBX. Russell Investments Group Ltd. increased its holdings in MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company's stock valued at $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 during the 4th quarter worth approximately $28,000. Strs Ohio grew its position in shares of MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company's stock worth $48,000 after acquiring an additional 900 shares in the last quarter. Royal Bank of Canada grew its position in shares of MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company's stock worth $49,000 after acquiring an additional 572 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of MBX Biosciences by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company's stock valued at $51,000 after acquiring an additional 1,567 shares during the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup reissued an "outperform" rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Citizens Jmp lifted their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a "market outperform" rating in a report on Tuesday, May 12th. UBS Group reiterated a "buy" rating and set a $90.00 target price on shares of MBX Biosciences in a research note on Thursday, July 23rd. Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Truist Financial lifted their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a "buy" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $73.38.

MBX Biosciences Trading Up 1.1%

Shares of MBX Biosciences stock opened at $67.82 on Friday. The business's 50 day simple moving average is $52.20 and its 200-day simple moving average is $40.03. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -28.14 and a beta of 0.10. MBX Biosciences, Inc. has a twelve month low of $9.63 and a twelve month high of $72.64.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its quarterly earnings results 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). Sell-side analysts predict that MBX Biosciences, Inc. will post -2.88 earnings per share for the current 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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