Sowell Financial Services LLC Purchases 53,077 Shares of MBX Biosciences, Inc. $MBX

Key Points

• Sowell Financial Services purchased 53,077 shares of MBX Biosciences in the third quarter, worth approximately $3.1 million and representing about 0.11% of the company.
• Several major institutions increased or initiated MBX positions, including Wellington Management, BlackRock, Parkman Healthcare Partners, Aaron Wealth Advisors, and Bank of America.
• MBX shares opened at $53.93, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $87; however, the company recently missed quarterly earnings expectations.

Sowell Financial Services LLC purchased a new position in MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 53,077 shares of the company's stock, valued at approximately $3,111,000. Sowell Financial Services LLC owned about 0.11% of MBX Biosciences as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of MBX Biosciences by 55.9% during the second quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company's stock valued at $274,759,000 after acquiring an additional 1,785,699 shares during the last quarter. BlackRock Inc. acquired a new position in MBX Biosciences in the 2nd quarter valued at about $183,467,000. Parkman Healthcare Partners LLC purchased a new position in MBX Biosciences in the 2nd quarter valued at about $44,170,000. Aaron Wealth Advisors LLC lifted its holdings in MBX Biosciences by 1,568.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company's stock valued at $34,870,000 after purchasing an additional 1,098,176 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in MBX Biosciences in the 2nd quarter valued at about $16,501,000.

MBX Biosciences Stock Up 0.8%

Shares of NASDAQ:MBX opened at $53.93 on Thursday. The company has a market cap of $2.60 billion, a P/E ratio of -22.38 and a beta of 0.10. MBX Biosciences, Inc. has a 52 week low of $14.61 and a 52 week high of $72.64. The business has a fifty day simple moving average of $59.82 and a 200-day simple moving average of $49.84.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Sell-side analysts expect that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MBX. UBS Group reiterated a "buy" rating on shares of MBX Biosciences in a report on Monday, September 28th. Mizuho boosted their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of MBX Biosciences in a research note on Thursday, October 15th. Stifel Nicolaus upped their price objective on shares of MBX Biosciences from $70.00 to $84.00 and gave the company a "buy" rating in a research note on Monday, October 12th. Finally, Truist Financial raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.00.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Plus peptide engineering platform to design medicines intended to provide targeted biological activity, longer duration and more convenient dosing than conventional peptide treatments.

MBX Biosciences' lead program is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone and has difficulty maintaining normal calcium levels.

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