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

Geode Capital Management LLC purchased a new stake in MBX Biosciences, Inc. (NYSE:MBX) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 22,269 shares of the company’s stock, valued at approximately $579,000. Geode Capital Management LLC owned about 0.07% of MBX Biosciences at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Barclays PLC purchased a new stake in shares of MBX Biosciences in the third quarter valued at about $426,000. NEA Management Company LLC purchased a new stake in shares of MBX Biosciences in the third quarter valued at approximately $93,904,000. The Manufacturers Life Insurance Company purchased a new stake in shares of MBX Biosciences in the third quarter valued at approximately $1,200,000. Maven Securities LTD purchased a new stake in MBX Biosciences during the third quarter worth $1,299,000. Finally, RA Capital Management L.P. purchased a new stake in MBX Biosciences during the third quarter worth $39,264,000.

MBX Biosciences Stock Down 5.7 %

MBX stock opened at $13.69 on Friday. The firm’s 50-day moving average price is $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 issued its earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.72) by ($0.06). On average, research analysts anticipate that MBX Biosciences, Inc. will post -13.21 earnings per share for the current year.

Analysts Set New Price Targets

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

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.