MBX Biosciences, Inc. $MBX Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. decreased its holdings in shares of MBX Biosciences, Inc. (NYSE:MBX) by 39.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,743 shares of the company’s stock after selling 73,189 shares during the quarter. Platinum Investment Management Ltd.’s holdings in MBX Biosciences were worth $1,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MBX. BNP Paribas Financial Markets acquired a new stake in MBX Biosciences during the fourth quarter worth $27,000. Bank of America Corp DE acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at $296,000. Deutsche Bank AG acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at $80,000. Nuveen Asset Management LLC acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at $267,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in shares of MBX Biosciences in the first quarter valued at $369,000.

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, Director Patrick J. Heron purchased 666,666 shares of the firm’s stock in a transaction on Friday, September 26th. The stock was bought at an average cost of $18.00 per share, with a total value of $11,999,988.00. Following the acquisition, the director directly owned 5,219,440 shares of the company’s stock, valued at approximately $93,949,920. This represents a 14.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 52.19% of the stock is owned by company insiders.

MBX Biosciences Price Performance

Shares of NYSE MBX opened at $17.90 on Thursday. The company has a market capitalization of $601.33 million and a price-to-earnings ratio of -3.94. The business has a 50-day moving average of $13.73 and a two-hundred day moving average of $11.47. MBX Biosciences, Inc. has a 1 year low of $4.81 and a 1 year high of $27.50.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MBX shares. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Oppenheimer started coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 price objective for the company. Finally, Mizuho lifted their price objective on MBX Biosciences from $38.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat, MBX Biosciences presently has an average rating of “Buy” and an average price target of $39.88.

MBX Biosciences Profile

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.