Woodline Partners LP Acquires 268,740 Shares of MBX Biosciences, Inc. $MBX

Key Points

• Woodline Partners LP increased its stake in MBX Biosciences, Inc. by 44.1%, now holding approximately $6.48 million worth of shares.
• MBX Biosciences received favorable ratings from multiple analysts, including an "outperform" rating and a price target of $38.00.
• The company's stock is currently trading around $10.83, significantly below its 52-week high of $27.50.

Woodline Partners LP lifted its holdings in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 44.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 877,461 shares of the company's stock after purchasing an additional 268,740 shares during the period. Woodline Partners LP owned 2.63% of MBX Biosciences worth $6,476,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of MBX Biosciences during the fourth quarter worth $27,000. New York State Common Retirement Fund bought a new position in MBX Biosciences during the first quarter worth $32,000. Deutsche Bank AG bought a new position in MBX Biosciences during the fourth quarter worth $80,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in MBX Biosciences during the fourth quarter worth $117,000. Finally, Wealthedge Investment Advisors LLC bought a new position in MBX Biosciences during the first quarter worth $88,000.

MBX Biosciences Stock Up 1.0%

MBX traded up $0.10 during midday trading on Thursday, hitting $10.04. The company had a trading volume of 139,898 shares, compared to its average volume of 331,449. MBX Biosciences, Inc. has a 52 week low of $4.81 and a 52 week high of $27.50. The company has a market capitalization of $337.32 million and a price-to-earnings ratio of -2.20. The stock's 50 day moving average price is $12.91 and its 200 day moving average price is $10.98.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MBX. Mizuho began coverage on shares of MBX Biosciences in a research note on Tuesday, August 5th. They set an "outperform" rating and a $38.00 target price for the company. Oppenheimer began coverage on shares of MBX Biosciences in a research note on Wednesday, July 16th. They set an "outperform" rating and a $38.00 target price for the company. Eight analysts have rated the stock with a Buy rating, According to MarketBeat.com, MBX Biosciences presently has a consensus rating of "Buy" and a consensus target price of $37.63.

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.