Elmind Capital LP Purchases New Stake in MBX Biosciences, Inc. $MBX

Elmind Capital LP purchased a new stake in MBX Biosciences, Inc. (NASDAQ:MBX) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 211,000 shares of the company’s stock, valued at approximately $6,655,000. MBX Biosciences comprises 2.0% of Elmind Capital LP’s portfolio, making the stock its 16th largest holding. Elmind Capital LP owned 0.47% of MBX Biosciences at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of MBX Biosciences by 27.0% during the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after purchasing an additional 73,989 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of MBX Biosciences by 171.6% during the 2nd quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock valued at $270,000 after purchasing an additional 14,950 shares in the last quarter. XTX Topco Ltd bought a new position in shares of MBX Biosciences during the 2nd quarter valued at about $135,000. The Manufacturers Life Insurance Company lifted its holdings in shares of MBX Biosciences by 73.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock valued at $994,000 after purchasing an additional 36,987 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MBX Biosciences by 40.3% during 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MBX shares. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Truist Financial lifted their target price on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $56.00 target price on MBX Biosciences in a research report on Tuesday, May 12th. Citizens Jmp lifted their target price on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. Finally, UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.22.

MBX Biosciences Stock Up 3.7%

Shares of MBX stock opened at $41.59 on Thursday. The company’s fifty day simple moving average is $32.96 and its 200-day simple moving average is $33.13. The firm has a market cap of $1.98 billion, a PE ratio of -18.82 and a beta of 0.75. MBX Biosciences, Inc. has a 12 month low of $9.43 and a 12 month high of $45.85.

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.