MBX Biosciences, Inc. $MBX Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in MBX Biosciences, Inc. (NASDAQ:MBX) by 30.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,634 shares of the company’s stock after purchasing an additional 21,083 shares during the period. The Manufacturers Life Insurance Company’s holdings in MBX Biosciences were worth $2,705,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of MBX Biosciences during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. grew its holdings in MBX Biosciences by 4,131.4% in the 3rd 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 in the last quarter. Royal Bank of Canada grew its holdings in 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 buying an additional 572 shares in the last quarter. Strs Ohio increased its position in MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after acquiring an additional 900 shares during the period. Finally, California State Teachers Retirement System raised its stake in MBX Biosciences by 64.7% during the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after acquiring an additional 689 shares in the last quarter.

MBX Biosciences Stock Performance

Shares of MBX stock opened at $67.82 on Friday. MBX Biosciences, Inc. has a 1 year low of $9.63 and a 1 year high of $72.64. The business’s fifty day moving average is $52.20 and its 200-day moving average is $40.03. The stock has a market cap of $3.23 billion, a PE ratio of -28.14 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Equities research analysts predict that MBX Biosciences, Inc. will post -2.88 earnings per share for the current year.

Analysts Set New Price Targets

MBX has been the subject of a number of analyst reports. UBS Group reiterated a “buy” rating and set a $90.00 price target on shares of MBX Biosciences in a research report on Thursday, July 23rd. Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a research report on Tuesday, May 12th. Truist Financial boosted their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Wall Street Zen lowered shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Mizuho increased their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.38.

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.