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

Elmind Capital LP acquired a new stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,000 shares of the company’s stock, valued at approximately $5,023,200,000. MBX Biosciences accounts for approximately 1.3% of Elmind Capital LP’s investment portfolio, making the stock its 20th largest holding. Elmind Capital LP owned 0.19% of MBX Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in MBX Biosciences in the 2nd quarter worth about $183,467,000. Wellington Management Group LLP lifted its holdings in MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after purchasing an additional 2,556,708 shares during the last quarter. Aaron Wealth Advisors LLC lifted its holdings in MBX Biosciences by 1,568.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock valued at $34,870,000 after purchasing an additional 1,098,176 shares during the last quarter. Braidwell LP bought a new position in MBX Biosciences during the fourth quarter worth about $32,127,000. Finally, Deep Track Capital LP raised its position in shares of MBX Biosciences by 43.9% in the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock valued at $55,125,000 after purchasing an additional 961,408 shares during the period.

MBX Biosciences Trading Up 3.4%

MBX stock opened at $68.62 on Wednesday. The firm has a 50 day moving average of $60.43 and a 200-day moving average of $42.44. The firm has a market capitalization of $3.30 billion, a P/E ratio of -28.47 and a beta of 0.10. MBX Biosciences, Inc. has a 12 month low of $9.63 and a 12 month high of $72.64.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). Sell-side analysts predict that MBX Biosciences, Inc. will post -3.12 EPS for the current year.

Analysts Set New Price Targets

MBX has been the topic of a number of recent research reports. 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 note on Tuesday, May 12th. Mizuho lifted their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. Truist Financial raised their price target on MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, UBS Group reiterated a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock 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.