Wellington Management Group LLP Has $274.76 Million Holdings in MBX Biosciences, Inc. $MBX

Wellington Management Group LLP increased its holdings in MBX Biosciences, Inc. (NASDAQ:MBX) by 55.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,977,523 shares of the company’s stock after purchasing an additional 1,785,699 shares during the quarter. Wellington Management Group LLP owned approximately 10.34% of MBX Biosciences worth $274,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC lifted 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 buying an additional 400 shares during the period. Royal Bank of Canada lifted its holdings 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 worth $49,000 after purchasing an additional 572 shares in the last quarter. California State Teachers Retirement System grew its holdings 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 valued at $55,000 after buying an additional 689 shares during the last quarter. Strs Ohio boosted its stake in MBX Biosciences by 128.6% during 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 last quarter. Finally, State of Wyoming bought a new stake in MBX Biosciences during the second quarter worth $58,000.

MBX Biosciences Price Performance

NASDAQ:MBX opened at $63.00 on Monday. The firm’s 50-day moving average price is $61.80 and its 200-day moving average price is $43.04. MBX Biosciences, Inc. has a 1-year low of $9.63 and a 1-year high of $72.64. The company has a market capitalization of $3.03 billion, a PE ratio of -26.14 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). Equities analysts anticipate that MBX Biosciences, Inc. will post -3.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on MBX. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research note on Friday, August 21st. They issued an “overweight” rating and a $88.00 price objective on the stock. Barclays reaffirmed an “overweight” rating and issued a $88.00 price target on shares of MBX Biosciences in a report on Friday, August 7th. UBS Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of MBX Biosciences in a research note on Thursday, July 23rd. Finally, Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, MBX Biosciences presently has an average rating of “Moderate Buy” and an average price target of $77.00.

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.