Wellington Management Group LLP Increases Holdings in MBX Biosciences, Inc. $MBX

Wellington Management Group LLP grew its holdings in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 55.9% in the 2nd quarter, according to its most recent 13F filing 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 0.10% of MBX Biosciences worth $274,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. boosted its holdings in MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares during the period. Strs Ohio grew its holdings 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. Royal Bank of Canada grew its position in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in MBX Biosciences by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after buying an additional 1,567 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake 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 acquiring an additional 689 shares in the last quarter.

MBX Biosciences Price Performance

NASDAQ:MBX opened at $63.00 on Monday. The stock’s fifty day moving average is $61.80 and its two-hundred day moving average is $43.04. MBX Biosciences, Inc. has a 52 week low of $9.63 and a 52 week high of $72.64. The company has a market capitalization of $3.03 billion, a P/E ratio of -26.14 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX) last announced its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Sell-side analysts anticipate that MBX Biosciences, Inc. will post -3.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

MBX has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Truist Financial upped their price target on shares of MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Barclays reissued an “overweight” rating and set a $88.00 target price on shares of MBX Biosciences in a report on Friday, August 7th. Mizuho upped their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.