Moore Capital Management LP Invests $3.58 Million in MBX Biosciences, Inc. $MBX

Key Points

• Moore Capital Management initiated a position in MBX Biosciences worth approximately $3.58 million, acquiring 64,893 shares, or about 0.13% of the company.
• MBX shares opened at $61.60, down 2.2%, while the company reported a quarterly loss of $0.78 per share—$0.10 worse than analyst expectations. Analysts project a full-year loss of $3.11 per share.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $77 average price target; MBX is developing peptide therapies for endocrine and metabolic disorders.

Moore Capital Management LP acquired a new stake in MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,893 shares of the company's stock, valued at approximately $3,582,000. Moore Capital Management LP owned about 0.13% of MBX Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in MBX. CWM LLC increased its holdings in shares of 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 acquiring an additional 400 shares during the last quarter. Royal Bank of Canada lifted its holdings in MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company's stock valued at $49,000 after acquiring an additional 572 shares during the period. California State Teachers Retirement System boosted its holdings in 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. Strs Ohio grew its holdings in shares of 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 acquiring an additional 900 shares during the period. Finally, State of Wyoming acquired a new stake in MBX Biosciences in the second quarter valued at $58,000.

MBX Biosciences Stock Down 2.2%

NASDAQ:MBX opened at $61.60 on Tuesday. MBX Biosciences, Inc. has a fifty-two week low of $9.63 and a fifty-two week high of $72.64. The company has a market cap of $2.97 billion, a P/E ratio of -25.56 and a beta of 0.09. The firm's 50 day moving average is $62.15 and its two-hundred day moving average is $43.21.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Research analysts forecast that MBX Biosciences, Inc. will post -3.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MBX shares. Weiss Ratings reissued a "sell (d-)" rating on shares of MBX Biosciences in a research report on Friday, July 17th. Truist Financial increased their price objective on MBX Biosciences from $70.00 to $88.00 and gave the company a "buy" rating in a research note on Monday, August 10th. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research report on Friday, August 21st. They set an "overweight" rating and a $88.00 price objective for the company. Wall Street Zen downgraded shares of MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Stifel Nicolaus set a $56.00 price target on shares of MBX Biosciences in a research note on Tuesday, May 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. Based on 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.

Want to see what other hedge funds are holding MBX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MBX Biosciences, Inc. (NASDAQ:MBX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source