Braidwell LP Sells 781,587 Shares of MBX Biosciences, Inc. $MBX

Braidwell LP trimmed its holdings in MBX Biosciences, Inc. (NASDAQ:MBX) by 52.4% in the second quarter, Holdings Channel reports. The fund owned 710,880 shares of the company’s stock after selling 781,587 shares during the period. MBX Biosciences accounts for about 1.5% of Braidwell LP’s portfolio, making the stock its 27th biggest position. Braidwell LP’s holdings in MBX Biosciences were worth $39,241,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MBX. Russell Investments Group Ltd. raised its position in shares of MBX Biosciences by 4,131.4% during the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the period. Strs Ohio grew its position in shares of MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after purchasing an additional 900 shares during the period. Royal Bank of Canada increased its stake in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares in the last quarter. BNP Paribas Financial Markets increased its stake in MBX Biosciences by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after purchasing an additional 1,567 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in MBX Biosciences by 64.7% during the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after buying an additional 689 shares during the period.

Wall Street Analyst Weigh In

MBX has been the topic of a number of research reports. UBS Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a research note on Thursday, July 23rd. Citizens Jmp raised their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a research note on Tuesday, May 12th. Finally, Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $77.00.

MBX Biosciences Price Performance

Shares of NASDAQ MBX opened at $60.89 on Thursday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of -25.27 and a beta of 0.04. The business has a 50-day moving average of $62.69 and a 200-day moving average of $43.55. MBX Biosciences, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last released its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, sell-side analysts expect that MBX Biosciences, Inc. will post -3.11 EPS for the current year.

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.