Aaron Wealth Advisors LLC Buys 1,098,176 Shares of MBX Biosciences, Inc. $MBX

Aaron Wealth Advisors LLC raised its stake in MBX Biosciences, Inc. (NASDAQ:MBX) by 1,568.8% in the first quarter, HoldingsChannel reports. The fund owned 1,168,176 shares of the company’s stock after purchasing an additional 1,098,176 shares during the period. MBX Biosciences accounts for approximately 2.0% of Aaron Wealth Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Aaron Wealth Advisors LLC’s holdings in MBX Biosciences were worth $34,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in MBX Biosciences by 4,131.4% during the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after buying an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of MBX Biosciences during the 3rd quarter worth approximately $27,000. GF Fund Management CO. LTD. purchased a new position in MBX Biosciences during the fourth quarter valued at $28,000. Royal Bank of Canada raised its position in shares of 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. Finally, BNP Paribas Financial Markets lifted its stake in MBX Biosciences by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after buying an additional 1,567 shares in the last quarter.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock opened at $50.37 on Friday. MBX Biosciences, Inc. has a 1-year low of $9.63 and a 1-year high of $52.50. The stock has a market cap of $2.40 billion, a P/E ratio of -22.79 and a beta of 0.75. The stock’s 50 day simple moving average is $34.64 and its 200-day simple moving average is $33.68.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Truist Financial boosted their price objective on MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen downgraded MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Sunday, May 17th. Lifesci Capital raised MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Finally, TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.22.

About MBX Biosciences

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.