Cormorant Asset Management LP Sells 105,000 Shares of MBX Biosciences, Inc. $MBX

Cormorant Asset Management LP lowered its holdings in MBX Biosciences, Inc. (NASDAQ:MBX) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,120,000 shares of the company’s stock after selling 105,000 shares during the period. MBX Biosciences comprises 1.6% of Cormorant Asset Management LP’s holdings, making the stock its 14th largest position. Cormorant Asset Management LP owned approximately 2.49% of MBX Biosciences worth $35,325,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Russell Investments Group Ltd. raised its stake in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the period. FNY Investment Advisers LLC bought a new position in MBX Biosciences during the third quarter valued at about $27,000. GF Fund Management CO. LTD. purchased a new stake in MBX Biosciences during the fourth quarter worth about $28,000. Royal Bank of Canada raised its position in MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after acquiring an additional 572 shares during the period. Finally, BNP Paribas Financial Markets raised its position in MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after acquiring an additional 1,567 shares during the period.

MBX Biosciences Stock Up 3.7%

MBX opened at $41.59 on Thursday. The firm has a 50-day moving average price of $32.96 and a 200-day moving average price of $33.13. MBX Biosciences, Inc. has a twelve month low of $9.43 and a twelve month high of $45.85. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -18.82 and a beta of 0.75.

Analysts Set New Price Targets

MBX has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Finally, Truist Financial upped their price target on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, MBX Biosciences presently has an average rating of “Moderate Buy” and an average price target of $60.22.

MBX Biosciences Company 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.