Stempoint Capital LP Grows Stock Position in MBX Biosciences, Inc. $MBX

Stempoint Capital LP lifted its stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 535.8% in the first quarter, Holdings Channel.com reports. The fund owned 499,469 shares of the company’s stock after acquiring an additional 420,916 shares during the quarter. MBX Biosciences makes up approximately 2.8% of Stempoint Capital LP’s investment portfolio, making the stock its 8th biggest position. Stempoint Capital LP’s holdings in MBX Biosciences were worth $14,909,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC raised its holdings in MBX Biosciences by 28.9% during the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock worth $56,000 after purchasing an additional 400 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after purchasing an additional 572 shares during the last quarter. California State Teachers Retirement System increased its position in shares of MBX Biosciences by 64.7% during the fourth 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. GF Fund Management CO. LTD. bought a new position in MBX Biosciences during the fourth quarter worth $28,000. Finally, Strs Ohio lifted its holdings in MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after buying an additional 900 shares during the period.

MBX Biosciences Stock Performance

MBX stock opened at $63.96 on Thursday. The stock’s 50 day simple moving average is $47.25 and its 200 day simple moving average is $38.61. The company has a market cap of $3.04 billion, a P/E ratio of -28.94 and a beta of 0.16. MBX Biosciences, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $66.66.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Citizens Jmp upped their price target on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday. Mizuho upped their target price on MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Friday, July 17th. Finally, Barclays lifted their target price on MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $71.12.

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.