Elmind Capital LP Purchases Shares of 91,000 MBX Biosciences, Inc. $MBX

Elmind Capital LP purchased a new stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 91,000 shares of the company’s stock, valued at approximately $5,023,200,000. MBX Biosciences comprises approximately 1.3% of Elmind Capital LP’s portfolio, making the stock its 20th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,446 shares in the last quarter. Strs Ohio grew its stake in MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after buying an additional 900 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after buying an additional 572 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of MBX Biosciences by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after buying an additional 1,567 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in shares of MBX Biosciences by 64.7% during the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after buying an additional 689 shares in the last quarter.

MBX Biosciences Stock Performance

Shares of MBX Biosciences stock opened at $68.62 on Wednesday. MBX Biosciences, Inc. has a 52-week low of $9.63 and a 52-week high of $72.64. The company has a fifty day moving average of $60.43 and a 200-day moving average of $42.44. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of -28.47 and a beta of 0.10.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on MBX. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Barclays restated an “overweight” rating and set a $88.00 price target on shares of MBX Biosciences in a research report on Friday, August 7th. Mizuho lifted their price target on MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. UBS Group reiterated a “buy” rating and set a $90.00 price objective on shares of MBX Biosciences in a research report on Thursday, July 23rd. Finally, Truist Financial raised their price objective on MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a report on Monday, August 10th. One research 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 stock. According to data from MarketBeat.com, MBX Biosciences presently has an average rating of “Moderate Buy” and a consensus target price of $77.00.

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.