MBX Biosciences, Inc. $MBX Stock Holdings Boosted by Profund Advisors LLC

Profund Advisors LLC grew its stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 183.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 25,021 shares of the company’s stock after acquiring an additional 16,209 shares during the quarter. Profund Advisors LLC’s holdings in MBX Biosciences were worth $1,467,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Bank of America Corp DE bought a new stake in shares of MBX Biosciences in the 2nd quarter valued at about $16,501,000. The Manufacturers Life Insurance Company boosted its stake in MBX Biosciences by 30.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company’s stock worth $2,705,000 after acquiring an additional 21,083 shares during the last quarter. Elmind Capital LP acquired a new position in MBX Biosciences during the second quarter valued at approximately $5,023,200. California State Teachers Retirement System grew its holdings in MBX Biosciences by 1,197.9% during the first quarter. California State Teachers Retirement System now owns 22,765 shares of the company’s stock valued at $680,000 after purchasing an additional 21,011 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in MBX Biosciences during the first quarter valued at approximately $1,396,000.

Wall Street Analyst Weigh In

MBX has been the subject of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of MBX Biosciences in a research note on Tuesday, October 27th. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Guggenheim boosted their price target on shares of MBX Biosciences from $88.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 2nd. JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a research report on Friday, August 21st. They issued an “overweight” rating and a $88.00 price objective for the company. Finally, Mizuho upped their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. One investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $87.00.

MBX Biosciences Stock Down 2.6%

NASDAQ MBX opened at $54.40 on Tuesday. MBX Biosciences, Inc. has a one year low of $20.21 and a one year high of $72.64. The stock’s 50-day moving average is $57.58 and its 200-day moving average is $45.77.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, equities research analysts forecast that MBX Biosciences, Inc. will post -3.10 EPS for the current year.

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.