Vanguard Group Inc. Buys 140,449 Shares of MBX Biosciences, Inc. $MBX

Vanguard Group Inc. grew its stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 8.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,817,811 shares of the company’s stock after buying an additional 140,449 shares during the period. Vanguard Group Inc. owned approximately 4.05% of MBX Biosciences worth $57,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in MBX Biosciences by 28.9% during the fourth quarter. CWM LLC now owns 1,784 shares of the company’s stock worth $56,000 after buying an additional 400 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in MBX Biosciences during the fourth quarter worth about $28,000. Russell Investments Group Ltd. boosted its holdings in MBX Biosciences by 4,131.4% during the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after buying an additional 1,567 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in MBX Biosciences during the third quarter worth about $27,000.

Insider Buying and Selling at MBX Biosciences

In other news, CEO P. Kent Hawryluk bought 18,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were acquired at an average price of $28.41 per share, with a total value of $525,585.00. Following the transaction, the chief executive officer owned 486,777 shares in the company, valued at $13,829,334.57. This represents a 3.95% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 52.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MBX has been the topic of a number of recent analyst reports. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. TD Cowen restated a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Citizens Jmp raised their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday. Guggenheim lifted their price objective on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a report on Friday, January 16th. Finally, Wall Street Zen upgraded MBX Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. 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 stock has an average rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Price Performance

NASDAQ:MBX opened at $32.45 on Friday. MBX Biosciences, Inc. has a fifty-two week low of $9.43 and a fifty-two week high of $45.85. The stock has a market capitalization of $1.54 billion, a PE ratio of -14.68 and a beta of 0.78. The business’s 50-day simple moving average is $31.48 and its 200-day simple moving average is $31.84.

MBX Biosciences (NASDAQ:MBX) last released its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.15. On average, research analysts expect that MBX Biosciences, Inc. will post -2.84 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.