Affinity Asset Advisors LLC Sells 100,000 Shares of MBX Biosciences, Inc. $MBX

Affinity Asset Advisors LLC reduced its holdings in MBX Biosciences, Inc. (NASDAQ:MBX) by 40.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the company’s stock after selling 100,000 shares during the period. Affinity Asset Advisors LLC’s holdings in MBX Biosciences were worth $4,478,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sei Investments Co. lifted its stake in MBX Biosciences by 17.4% in the first quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock valued at $268,000 after buying an additional 1,332 shares during the period. Dimensional Fund Advisors LP acquired a new position in MBX Biosciences in the first quarter valued at about $1,396,000. Swiss National Bank bought a new stake in shares of MBX Biosciences in the first quarter worth about $1,325,000. Bank of New York Mellon Corp raised its position in shares of MBX Biosciences by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 80,222 shares of the company’s stock worth $2,395,000 after purchasing an additional 4,960 shares during the period. Finally, Candriam S.C.A. acquired a new stake in shares of MBX Biosciences during the first quarter worth about $8,787,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus set a $56.00 price target on shares of MBX Biosciences in a report on Tuesday, May 12th. Truist Financial boosted their price objective on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. UBS Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of MBX Biosciences in a research note on Thursday. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. Finally, Barclays boosted their target price on MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.75.

MBX Biosciences Stock Down 2.5%

Shares of NASDAQ MBX opened at $62.00 on Friday. The business’s 50 day moving average price is $45.40 and its two-hundred day moving average price is $37.89. The company has a market cap of $2.95 billion, a PE ratio of -28.05 and a beta of 0.16. MBX Biosciences, Inc. has a twelve month low of $9.63 and a twelve month high of $66.66.

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.