450,000 Shares in MBX Biosciences, Inc. (NYSE:MBX) Purchased by Franklin Resources Inc.

Franklin Resources Inc. bought a new stake in shares of MBX Biosciences, Inc. (NYSE:MBX) in the third quarter, Holdings Channel reports. The fund bought 450,000 shares of the company’s stock, valued at approximately $11,691,000.

Several other large investors have also recently made changes to their positions in MBX. Teachers Retirement System of The State of Kentucky purchased a new position in shares of MBX Biosciences in the 3rd quarter worth about $694,000. NEA Management Company LLC purchased a new position in MBX Biosciences in the third quarter worth about $93,904,000. The Manufacturers Life Insurance Company bought a new position in shares of MBX Biosciences in the third quarter worth approximately $1,200,000. Maven Securities LTD purchased a new stake in shares of MBX Biosciences during the third quarter valued at approximately $1,299,000. Finally, RA Capital Management L.P. bought a new stake in shares of MBX Biosciences during the third quarter valued at approximately $39,264,000.

Analyst Upgrades and Downgrades

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

MBX Biosciences Stock Up 0.4 %

Shares of MBX stock opened at $20.36 on Friday. MBX Biosciences, Inc. has a 1 year low of $15.31 and a 1 year high of $27.50. The company’s fifty day simple moving average is $21.04.

MBX Biosciences (NYSE:MBX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.72) by ($0.06). On average, sell-side analysts forecast that MBX Biosciences, Inc. will post -13.21 earnings per share for the current fiscal 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.