Ghisallo Capital Management LLC Takes $669,000 Position in MBX Biosciences, Inc. $MBX

Ghisallo Capital Management LLC acquired a new stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) during the third quarter, according to its most recent filing with the SEC. The fund acquired 38,250 shares of the company’s stock, valued at approximately $669,000. Ghisallo Capital Management LLC owned 0.11% of MBX Biosciences as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in MBX Biosciences by 112.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after purchasing an additional 2,556,708 shares during the period. UBS Group AG increased its position in shares of MBX Biosciences by 96.1% during the third quarter. UBS Group AG now owns 60,725 shares of the company’s stock valued at $1,063,000 after buying an additional 29,758 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after buying an additional 1,567 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of MBX Biosciences by 164.2% in the third quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock worth $22,878,000 after buying an additional 812,436 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after acquiring an additional 1,446 shares during the period.

MBX Biosciences Trading Up 0.2%

MBX stock opened at $28.00 on Friday. The company’s 50 day moving average is $35.57 and its 200 day moving average is $26.53. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -11.62 and a beta of 1.06. MBX Biosciences, Inc. has a 1-year low of $4.81 and a 1-year high of $44.89.

MBX Biosciences (NASDAQ:MBX) last announced its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.15.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MBX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, January 22nd. The Goldman Sachs Group initiated coverage on shares of MBX Biosciences in a report on Thursday, December 4th. They issued a “sell” rating and a $18.00 price target for the company. TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research report on Thursday. Guggenheim upped their price target on shares of MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, Truist Financial set a $50.00 price objective on MBX Biosciences in a research report on Monday. Ten investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.56.

MBX Biosciences 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.