Sowell Financial Services LLC Makes New Investment in MBX Biosciences, Inc. $MBX

Sowell Financial Services LLC purchased a new position in MBX Biosciences, Inc. (NASDAQ:MBX) during the third quarter, HoldingsChannel.com reports. The fund purchased 53,077 shares of the company’s stock, valued at approximately $3,111,000.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new position in MBX Biosciences in the second quarter worth about $183,467,000. Wellington Management Group LLP raised its position in shares of MBX Biosciences by 55.9% during the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock worth $274,759,000 after purchasing an additional 1,785,699 shares during the period. Parkman Healthcare Partners LLC bought a new stake in MBX Biosciences in the second quarter valued at $44,170,000. Stempoint Capital LP boosted its holdings in shares of MBX Biosciences by 535.8% during the first quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock valued at $14,909,000 after acquiring an additional 420,916 shares during the period. Finally, Bank of America Corp DE acquired a new position in MBX Biosciences during the 2nd quarter valued at about $16,501,000.

MBX Biosciences Price Performance

MBX opened at $55.87 on Friday. The business has a fifty day simple moving average of $57.82 and a 200-day simple moving average of $45.68. MBX Biosciences, Inc. has a fifty-two week low of $20.21 and a fifty-two week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). As a group, equities analysts expect that MBX Biosciences, Inc. will post -3.10 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, October 15th. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a report on Friday, August 21st. They set an “overweight” rating and a $88.00 price target on the stock. Guggenheim raised their target price on shares of MBX Biosciences from $88.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Mizuho raised their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Barclays restated an “overweight” rating and issued a $88.00 target price on shares of MBX Biosciences in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.