The Manufacturers Life Insurance Company Acquires Shares of 46,194 MBX Biosciences, Inc. (NYSE:MBX)

The Manufacturers Life Insurance Company acquired a new position in shares of MBX Biosciences, Inc. (NYSE:MBX) in the third quarter, HoldingsChannel reports. The fund acquired 46,194 shares of the company’s stock, valued at approximately $1,200,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MBX shares. Stifel Nicolaus started coverage on MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $40.00 price objective for the company. Jefferies Financial Group started coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $35.00 target price on the stock. Guggenheim started coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price target on the stock.

Insider Activity at MBX Biosciences

In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the stock in a transaction on Monday, September 16th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider now directly owns 4,552,774 shares of the company’s stock, valued at approximately $72,844,384. This represents a 15.91 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward T. Mathers purchased 500,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following the transaction, the director now directly owns 3,614,486 shares of the company’s stock, valued at $57,831,776. This represents a 16.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

MBX Biosciences Stock Performance

Shares of MBX opened at $22.74 on Thursday. The stock’s 50-day moving average is $21.57. MBX Biosciences, Inc. has a 12 month low of $15.31 and a 12 month high of $27.50.

MBX Biosciences (NYSE:MBX) last issued its earnings results on Thursday, November 7th. The company reported ($2.78) EPS for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.06). On average, equities research analysts forecast that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.