Orbimed Advisors LLC Sells 297,316 Shares of MBX Biosciences, Inc. $MBX

Orbimed Advisors LLC trimmed its position in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 7.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,637,887 shares of the company’s stock after selling 297,316 shares during the quarter. MBX Biosciences makes up approximately 2.0% of Orbimed Advisors LLC’s investment portfolio, making the stock its 10th largest position. Orbimed Advisors LLC owned about 0.08% of MBX Biosciences worth $108,591,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in MBX Biosciences by 28.9% in the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after purchasing an additional 400 shares in the last quarter. Royal Bank of Canada boosted its stake in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares during the last quarter. California State Teachers Retirement System grew its holdings in shares of MBX Biosciences by 64.7% during the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after buying an additional 689 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of MBX Biosciences during the fourth quarter worth $28,000. Finally, Strs Ohio raised its position in shares of MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after buying an additional 900 shares during the last quarter.

MBX Biosciences Price Performance

NASDAQ MBX opened at $62.00 on Monday. MBX Biosciences, Inc. has a 52 week low of $9.63 and a 52 week high of $66.66. The business’s fifty day simple moving average is $45.40 and its 200-day simple moving average is $37.96. The firm has a market cap of $2.95 billion, a PE ratio of -28.05 and a beta of 0.16.

Analysts Set New Price Targets

MBX has been the topic of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research note on Friday, July 17th. Citizens Jmp increased their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a report on Tuesday, May 12th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. UBS Group restated a “buy” rating and set a $90.00 target price on shares of MBX Biosciences in a report on Thursday. Finally, Stifel Nicolaus set a $56.00 price target on MBX Biosciences in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.75.

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.