The Manufacturers Life Insurance Company Invests $1.20 Million in MBX Biosciences, Inc. (NYSE:MBX)

The Manufacturers Life Insurance Company acquired a new position in MBX Biosciences, Inc. (NYSE:MBX - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 46,194 shares of the company's stock, valued at approximately $1,200,000. The Manufacturers Life Insurance Company owned about 0.14% of MBX Biosciences as of its most recent filing with the Securities and Exchange Commission.

Insider Buying and Selling at MBX Biosciences

In other news, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences 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 $8,000,000.00. Following the purchase, the director now owns 3,614,486 shares in the company, valued at $57,831,776. This trade represents a 16.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of MBX Biosciences stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the purchase, the insider now owns 4,552,774 shares in the company, valued at $72,844,384. This represents a 15.91 % increase in their position. The disclosure for this purchase can be found here.

Wall Street Analysts Forecast Growth

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

MBX Biosciences Trading Down 8.7 %

MBX Biosciences stock traded down $1.97 during mid-day trading on Thursday, reaching $20.77. 135,690 shares of the company traded hands, compared to its average volume of 129,401. The stock's 50 day moving average price is $21.57. MBX Biosciences, Inc. has a 52-week low of $15.31 and a 52-week high of $27.50.

MBX Biosciences (NYSE:MBX - Get Free Report) last issued its quarterly 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). Analysts predict 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.