Geode Capital Management LLC Makes New $579,000 Investment in MBX Biosciences, Inc. (NYSE:MBX)

Geode Capital Management LLC acquired a new position in shares of MBX Biosciences, Inc. (NYSE:MBX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 22,269 shares of the company’s stock, valued at approximately $579,000.

Several other institutional investors also recently bought and sold shares of MBX. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MBX Biosciences during the third quarter worth approximately $278,000. Point72 Asset Management L.P. acquired a new position in shares of MBX Biosciences during the third quarter worth $405,000. Barclays PLC acquired a new position in shares of MBX Biosciences during the third quarter worth $426,000. Point72 DIFC Ltd acquired a new position in shares of MBX Biosciences during the third quarter worth $624,000. Finally, Jane Street Group LLC acquired a new position in shares of MBX Biosciences during the third quarter worth $690,000.

Wall Street Analysts Forecast Growth

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

MBX Biosciences Stock Performance

MBX opened at $13.69 on Friday. The company has a fifty day moving average of $19.58. MBX Biosciences, Inc. has a 12-month low of $13.32 and a 12-month high of $27.50.

MBX Biosciences (NYSE:MBX) last posted 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). As a group, equities research analysts anticipate that MBX Biosciences, Inc. will post -13.21 EPS for the current fiscal year.

MBX Biosciences Company Profile

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.