Cormorant Asset Management LP Lowers Stock Holdings in MBX Biosciences, Inc. $MBX

Cormorant Asset Management LP reduced its position in MBX Biosciences, Inc. (NASDAQ:MBX) by 8.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,120,000 shares of the company’s stock after selling 105,000 shares during the quarter. MBX Biosciences makes up about 1.6% of Cormorant Asset Management LP’s holdings, making the stock its 14th biggest holding. Cormorant Asset Management LP’s holdings in MBX Biosciences were worth $35,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hudson Bay Capital Management LP purchased a new position in shares of MBX Biosciences during the 3rd quarter valued at about $1,488,000. Ghisallo Capital Management LLC purchased a new stake in MBX Biosciences in the third quarter worth approximately $669,000. Aaron Wealth Advisors LLC grew its position in MBX Biosciences by 40.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock valued at $2,208,000 after acquiring an additional 20,000 shares during the last quarter. Goelzer Investment Management Inc. purchased a new position in shares of MBX Biosciences during the fourth quarter worth approximately $6,992,000. Finally, Baker BROS. Advisors LP purchased a new position in shares of MBX Biosciences during the third quarter worth approximately $4,861,000.

MBX Biosciences Stock Up 3.7%

Shares of MBX opened at $41.59 on Thursday. The stock has a market capitalization of $1.98 billion, a P/E ratio of -18.82 and a beta of 0.75. MBX Biosciences, Inc. has a twelve month low of $9.43 and a twelve month high of $45.85. The firm has a fifty day simple moving average of $32.96 and a two-hundred day simple moving average of $33.13.

Analyst Ratings Changes

Several research firms have weighed in on MBX. Truist Financial boosted their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Citizens Jmp raised their price objective 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. Stifel Nicolaus set a $56.00 price objective on MBX Biosciences in a report on Tuesday, May 12th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a report on Sunday, May 17th. Finally, TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th. One equities 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 company. According to MarketBeat.com, the stock currently has a consensus 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.