MBX Biosciences, Inc. $MBX Shares Sold by EcoR1 Capital LLC

EcoR1 Capital LLC lowered its position in MBX Biosciences, Inc. (NASDAQ:MBX) by 63.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 777,000 shares of the company’s stock after selling 1,346,604 shares during the quarter. MBX Biosciences makes up 1.0% of EcoR1 Capital LLC’s investment portfolio, making the stock its 15th biggest position. EcoR1 Capital LLC’s holdings in MBX Biosciences were worth $23,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of MBX Biosciences by 30.3% in the first 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 in the last quarter. Sei Investments Co. increased its holdings in MBX Biosciences by 17.4% during the 1st quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock worth $268,000 after purchasing an additional 1,332 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of MBX Biosciences in the 1st quarter valued at approximately $1,396,000. Swiss National Bank purchased a new position in shares of MBX Biosciences during the 1st quarter valued at approximately $1,325,000. Finally, Bank of New York Mellon Corp grew its position in shares of MBX Biosciences by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 80,222 shares of the company’s stock worth $2,395,000 after buying an additional 4,960 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MBX shares. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Truist Financial lifted their price target on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citizens Jmp increased their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 12th. Finally, Barclays boosted their price target on MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $66.75.

MBX Biosciences Stock Down 1.1%

Shares of NASDAQ MBX opened at $61.30 on Tuesday. The firm’s 50-day moving average price is $46.01 and its two-hundred day moving average price is $38.18. MBX Biosciences, Inc. has a 52-week low of $9.63 and a 52-week high of $66.66. The stock has a market capitalization of $2.92 billion, a P/E ratio of -27.74 and a beta of 0.16.

MBX Biosciences 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.