Eventide Asset Management LLC Makes New $28.07 Million Investment in MBX Biosciences, Inc. $MBX

Eventide Asset Management LLC purchased a new stake in MBX Biosciences, Inc. (NASDAQ:MBX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 890,000 shares of the company’s stock, valued at approximately $28,071,000. Eventide Asset Management LLC owned 1.98% of MBX Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MBX. Wellington Management Group LLP grew its stake in shares of MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after purchasing an additional 2,556,708 shares during the period. Deep Track Capital LP grew its stake in shares of MBX Biosciences by 43.9% during the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after purchasing an additional 961,408 shares during the period. Franklin Resources Inc. grew its stake in shares of MBX Biosciences by 164.2% during the third quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock worth $22,878,000 after purchasing an additional 812,436 shares during the period. Vanguard Group Inc. grew its stake in shares of MBX Biosciences by 60.7% during the third quarter. Vanguard Group Inc. now owns 1,677,362 shares of the company’s stock worth $29,354,000 after purchasing an additional 633,678 shares during the period. Finally, State Street Corp increased its stake in shares of MBX Biosciences by 110.7% in the 4th quarter. State Street Corp now owns 672,740 shares of the company’s stock valued at $21,218,000 after acquiring an additional 353,466 shares during the last quarter.

MBX Biosciences Stock Performance

NASDAQ MBX opened at $35.51 on Friday. The business has a 50 day simple moving average of $32.49 and a 200 day simple moving average of $32.97. MBX Biosciences, Inc. has a 52-week low of $9.43 and a 52-week high of $45.85. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -16.07 and a beta of 0.75.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.15. On average, analysts predict that MBX Biosciences, Inc. will post -2.84 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citizens Jmp upped their price target on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Lifesci Capital raised MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Tuesday, April 21st. 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 note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.