MBX Biosciences, Inc. $MBX Stock Acquired by Profund Advisors LLC

Profund Advisors LLC increased its stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 183.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,021 shares of the company’s stock after buying an additional 16,209 shares during the period. Profund Advisors LLC owned 0.05% of MBX Biosciences worth $1,467,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MBX. Sterling Capital Management LLC increased its position in MBX Biosciences by 847.7% in the 3rd quarter. Sterling Capital Management LLC now owns 1,033 shares of the company’s stock valued at $61,000 after acquiring an additional 924 shares in the last quarter. State of Wyoming bought a new position in shares of MBX Biosciences in the second quarter worth about $58,000. Strs Ohio lifted its position in shares of MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of MBX Biosciences during the second quarter worth approximately $213,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of MBX Biosciences during the second quarter valued at approximately $287,000.

MBX Biosciences Stock Performance

Shares of NASDAQ MBX opened at $54.40 on Tuesday. The company’s 50 day simple moving average is $57.58 and its 200 day simple moving average is $45.77. MBX Biosciences, Inc. has a fifty-two week low of $20.21 and a fifty-two week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last released its 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). On average, research analysts anticipate that MBX Biosciences, Inc. will post -3.10 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a report on Friday, August 21st. They issued an “overweight” rating and a $88.00 price target for the company. Barclays reaffirmed an “overweight” rating and set a $88.00 price objective on shares of MBX Biosciences in a report on Friday, August 7th. UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a report on Monday, September 28th. Truist Financial increased their price objective on MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Citigroup reissued a “market outperform” rating on shares of MBX Biosciences in a research note on Tuesday, October 27th. One investment 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. According to MarketBeat, MBX Biosciences currently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Plus peptide engineering platform to design medicines intended to provide targeted biological activity, longer duration and more convenient dosing than conventional peptide treatments.

MBX Biosciences’ lead program is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone and has difficulty maintaining normal calcium levels.