Platinum Investment Management Ltd. Lowers Stock Holdings in MBX Biosciences, Inc. $MBX

Key Points

• Platinum Investment Management Ltd. has reduced its holdings in MBX Biosciences by 39.4%, owning approximately 112,743 shares valued at $1.286 million after selling 73,189 shares in Q2.
• On the other hand, multiple hedge funds have increased their positions in MBX, with notable purchases including MPM Bioimpact LLC and Parkman Healthcare Partners LLC increasing their holdings significantly.
• Wall Street analysts exhibit a positive outlook on MBX, with a consensus rating of "Buy" and a target price of around $39.88, indicating potential for growth.

Platinum Investment Management Ltd. lowered its holdings in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 39.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,743 shares of the company's stock after selling 73,189 shares during the quarter. Platinum Investment Management Ltd. owned approximately 0.34% of MBX Biosciences worth $1,286,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MPM Bioimpact LLC purchased a new position in shares of MBX Biosciences in the first quarter valued at approximately $8,361,000. Woodline Partners LP lifted its position in shares of MBX Biosciences by 44.1% in the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock valued at $6,476,000 after acquiring an additional 268,740 shares in the last quarter. Affinity Asset Advisors LLC purchased a new position in shares of MBX Biosciences in the first quarter valued at approximately $1,292,000. Parkman Healthcare Partners LLC lifted its position in shares of MBX Biosciences by 93.1% in the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock valued at $2,423,000 after acquiring an additional 158,323 shares in the last quarter. Finally, Exome Asset Management LLC purchased a new position in shares of MBX Biosciences in the first quarter valued at approximately $982,000.

MBX Biosciences Stock Performance

Shares of MBX Biosciences stock opened at $17.90 on Thursday. MBX Biosciences, Inc. has a one year low of $4.81 and a one year high of $27.50. The company has a market cap of $601.33 million and a price-to-earnings ratio of -3.94. The business's 50 day moving average price is $13.73 and its 200 day moving average price is $11.47.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MBX. Mizuho raised their target price on MBX Biosciences from $38.00 to $56.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Oppenheimer initiated coverage on MBX Biosciences in a research report on Wednesday, July 16th. They set an "outperform" rating and a $38.00 price objective on the stock. Finally, Citigroup reiterated an "outperform" rating on shares of MBX Biosciences in a research report on Monday, September 22nd. Nine research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $39.88.

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, Director Patrick J. Heron bought 666,666 shares of the business's stock in a transaction on Friday, September 26th. The stock was bought at an average price of $18.00 per share, with a total value of $11,999,988.00. Following the completion of the purchase, the director directly owned 5,219,440 shares in the company, valued at $93,949,920. The trade was a 14.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 52.19% of the stock is currently owned by company insiders.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.

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