Candriam S.C.A. Purchases New Holdings in MBX Biosciences, Inc. $MBX

Candriam S.C.A. acquired a new position in MBX Biosciences, Inc. (NASDAQ:MBX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 294,374 shares of the company’s stock, valued at approximately $8,787,000. Candriam S.C.A. owned 0.62% of MBX Biosciences at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of MBX Biosciences by 112.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after acquiring an additional 2,556,708 shares during the last quarter. Deep Track Capital LP boosted its holdings in MBX Biosciences by 43.9% during the 3rd quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock valued at $55,125,000 after acquiring an additional 961,408 shares during the period. Vanguard Group Inc. grew its position in MBX Biosciences by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock valued at $57,334,000 after acquiring an additional 140,449 shares during the last quarter. Franklin Resources Inc. grew its position in MBX Biosciences by 164.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock valued at $22,878,000 after acquiring an additional 812,436 shares during the last quarter. Finally, MPM Bioimpact LLC increased its stake in MBX Biosciences by 14.3% in the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock worth $14,769,000 after purchasing an additional 161,466 shares during the period.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MBX. Citizens Jmp lifted their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 12th. Truist Financial upped their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Stifel Nicolaus set a $56.00 price objective on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.22.

MBX Biosciences Price Performance

MBX stock opened at $61.05 on Monday. The business has a 50-day moving average price of $40.35 and a 200 day moving average price of $35.91. The company has a market capitalization of $2.91 billion, a P/E ratio of -27.62 and a beta of 0.16. MBX Biosciences, Inc. has a 1-year low of $9.63 and a 1-year high of $66.55.

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.