Franklin Resources Inc. Purchases Shares of 450,000 MBX Biosciences, Inc. (NYSE:MBX)

Franklin Resources Inc. acquired a new position in MBX Biosciences, Inc. (NYSE:MBX - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 450,000 shares of the company's stock, valued at approximately $11,691,000. Franklin Resources Inc. owned 1.35% of MBX Biosciences as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MBX Biosciences during the third quarter valued at $278,000. Point72 Asset Management L.P. acquired a new position in MBX Biosciences during the 3rd quarter valued at about $405,000. Barclays PLC bought a new stake in shares of MBX Biosciences during the 3rd quarter worth about $426,000. Geode Capital Management LLC acquired a new stake in shares of MBX Biosciences in the 3rd quarter worth approximately $579,000. Finally, Point72 DIFC Ltd bought a new position in shares of MBX Biosciences in the third quarter valued at approximately $624,000.

Wall Street Analyst Weigh In

MBX has been the subject of a number of research analyst reports. Stifel Nicolaus started coverage on MBX Biosciences in a research report on Tuesday, October 8th. They issued a "buy" rating and a $40.00 target price for the company. Guggenheim assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $44.00 price objective for the company. Jefferies Financial Group assumed coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set a "buy" rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued an "overweight" rating and a $30.00 price target for the company.

MBX Biosciences Stock Up 0.4 %

Shares of NYSE MBX traded up $0.09 during mid-day trading on Friday, reaching $20.36. The company had a trading volume of 2,771,835 shares, compared to its average volume of 149,703. MBX Biosciences, Inc. has a 1-year low of $15.31 and a 1-year high of $27.50. The business has a 50-day moving average price of $21.04.

MBX Biosciences (NYSE:MBX - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($2.78) EPS for the quarter, missing analysts' consensus estimates of ($2.72) by ($0.06). As a group, analysts anticipate that MBX Biosciences, Inc. will post -13.21 earnings per share for the current 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.