Platinum Investment Management Ltd. Lowers Stake in MBX Biosciences, Inc. $MBX

Platinum Investment Management Ltd. lowered its stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 37.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,597 shares of the company’s stock after selling 25,831 shares during the period. Platinum Investment Management Ltd. owned 0.10% of MBX Biosciences worth $1,375,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Hudson Bay Capital Management LP purchased a new stake in MBX Biosciences during the third quarter worth $1,488,000. Ghisallo Capital Management LLC purchased a new stake in MBX Biosciences during the third quarter worth $669,000. Aaron Wealth Advisors LLC lifted its holdings in MBX Biosciences by 40.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock worth $2,208,000 after buying an additional 20,000 shares during the period. Goelzer Investment Management Inc. purchased a new stake in MBX Biosciences during the fourth quarter worth $6,992,000. Finally, Baker BROS. Advisors LP purchased a new stake in MBX Biosciences during the third quarter worth $4,861,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MBX shares. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. Truist Financial raised their price objective on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.22.

MBX Biosciences Price Performance

Shares of MBX stock opened at $35.51 on Friday. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of -16.07 and a beta of 0.75. The business has a fifty day moving average of $32.49 and a 200 day moving average of $32.97. MBX Biosciences, Inc. has a 1 year low of $9.43 and a 1 year high of $45.85.

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

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.