277,777 Shares in MBX Biosciences, Inc. $MBX Acquired by Baker BROS. Advisors LP

Baker BROS. Advisors LP bought a new stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) during the third quarter, HoldingsChannel reports. The fund bought 277,777 shares of the company’s stock, valued at approximately $4,861,000.

Several other hedge funds also recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its holdings 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 worth $26,000 after acquiring an additional 1,446 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after acquiring an additional 1,567 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in MBX Biosciences during the 3rd quarter worth about $88,000. Virtus Investment Advisers LLC increased its position in MBX Biosciences by 9.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after purchasing an additional 766 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in MBX Biosciences by 40.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after purchasing an additional 2,682 shares during the last quarter.

MBX Biosciences Trading Up 0.2%

Shares of NASDAQ:MBX opened at $28.00 on Friday. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -11.62 and a beta of 1.06. The stock’s 50-day moving average price is $35.57 and its two-hundred day moving average price is $26.61. MBX Biosciences, Inc. has a 12-month low of $4.81 and a 12-month high of $44.89.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MBX shares. Truist Financial set a $50.00 target price on shares of MBX Biosciences in a report on Monday, March 9th. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday, December 21st. TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a research note on Thursday. Stifel Nicolaus raised their target price on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Barclays assumed coverage on MBX Biosciences in a report on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price target for the company. Ten investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.56.

About MBX Biosciences

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.