Platinum Investment Management Ltd. Trims Stock Holdings in MBX Biosciences, Inc. $MBX

Platinum Investment Management Ltd. decreased its position in MBX Biosciences, Inc. (NASDAQ:MBX) by 37.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,597 shares of the company’s stock after selling 25,831 shares during the period. Platinum Investment Management Ltd.’s holdings in MBX Biosciences were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new position in MBX Biosciences in the 3rd quarter worth $1,488,000. Ghisallo Capital Management LLC purchased a new position in MBX Biosciences in the 3rd quarter worth $669,000. Aaron Wealth Advisors LLC raised its stake in MBX Biosciences by 40.0% in the 4th quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock worth $2,208,000 after acquiring an additional 20,000 shares during the last quarter. Goelzer Investment Management Inc. purchased a new position in shares of MBX Biosciences during the 4th quarter valued at about $6,992,000. Finally, Baker BROS. Advisors LP purchased a new position in shares of MBX Biosciences during the 3rd quarter valued at about $4,861,000.

MBX Biosciences Stock Performance

NASDAQ MBX opened at $35.51 on Friday. The stock has a 50-day simple moving average of $32.49 and a two-hundred day simple moving average of $32.97. The firm has a market capitalization of $1.69 billion, a P/E ratio of -16.07 and a beta of 0.75. MBX Biosciences, Inc. has a fifty-two week low of $9.43 and a fifty-two week high of $45.85.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15. As a group, analysts forecast that MBX Biosciences, Inc. will post -2.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MBX. Truist Financial lifted their price objective on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Tuesday, April 21st. Barclays lifted their price objective on MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Citizens Jmp lifted their price objective on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Finally, Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.22.

MBX Biosciences Company Profile

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.