Elmind Capital LP Invests $6.66 Million in MBX Biosciences, Inc. $MBX

Elmind Capital LP acquired a new position in shares of MBX Biosciences, Inc. (NASDAQ:MBX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 211,000 shares of the company’s stock, valued at approximately $6,655,000. MBX Biosciences makes up 2.0% of Elmind Capital LP’s investment portfolio, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in MBX. Geode Capital Management LLC raised its stake 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 worth $3,976,000 after purchasing an additional 73,989 shares in the last quarter. Rhumbline Advisers raised its stake in shares of MBX Biosciences by 171.6% during the 2nd quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after purchasing an additional 14,950 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of MBX Biosciences during the 2nd quarter worth approximately $135,000. The Manufacturers Life Insurance Company raised its stake 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 worth $994,000 after purchasing an additional 36,987 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $106,000 after purchasing an additional 2,682 shares in the last quarter.

MBX Biosciences Trading Up 3.7%

MBX stock opened at $41.59 on Thursday. The firm has a market capitalization of $1.98 billion, a PE ratio of -18.82 and a beta of 0.75. MBX Biosciences, Inc. has a 1-year low of $9.43 and a 1-year high of $45.85. The business’s 50 day simple moving average is $32.96 and its 200 day simple moving average is $33.13.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Wall Street Zen lowered MBX Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Finally, Citizens Jmp boosted their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, MBX Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $60.22.

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.