Eventide rebalances biotech holdings
Eventide Asset Management Makes Major Biotech Investments in MBX and Nurix, Trimming Celcuity Holdings
Key Points
For MBX Biosciences, Eventide’s new stake was accompanied by other sizable institutional activity: Goelzer Investment Management Inc. added a new position worth about $6.992 million in the fourth quarter, while Aaron Wealth Advisors LLC boosted its MBX position by 40% to 70,000 shares after buying an additional 20,000 shares.
For Nurix Therapeutics, filings cited sharp percentage increases by other funds alongside Eventide’s purchase—Millennium Management LLC reportedly lifted its stake by 106.2% to 874,399 shares, and Goldman Sachs Group Inc. increased its holdings by 9.5% to 507,471 shares.
Kestra Medical Technologies saw broader investor follow-on beyond Eventide: Barclays PLC reportedly increased its stake by 120.6% to 41,170 shares, while Brown Advisory Inc. increased by 34.1% to 1,688,356 shares. The article also noted insider Brian Daniel Webster sold 15,000 shares at an average price of $20.96 (about $314,400 total).
In Celcuity, Eventide’s trimmed position left it with 313,679 shares (~0.68% of the company) valued at about $31.287 million, and the article added balance-sheet context including a current ratio of 12.31, a quick ratio of 12.31, and a debt-to-equity ratio of 6.04; it also stated hedge funds and other institutions own 63.33% of the stock.
Eventide Asset Management made a bold bet on biotech in its latest 13F filing, buying 890,000 shares of MBX Biosciences for about $28.1 million and 1,297,893 shares of Nurix Therapeutics for about $24.6 million — both brand-new positions, according to Watchlist News.
The Boston-based investment firm also increased its Kestra Medical Technologies stake to 1,269,651 shares worth roughly $33.7 million. At the same time, it slashed its Celcuity position by 80.3%, leaving just 313,679 shares. The moves signal a clear shift: out of late-stage oncology, into earlier-stage drug platforms.
Eventide Bets Big on Protein Drugs and Peptide Therapy
The two new positions together total about $52.6 million. MBX Biosciences focuses on precision peptide therapy — engineered peptide drugs designed to last longer and act more precisely in the body. Nurix Therapeutics works on targeted protein degradation, a newer approach where drugs tag disease-causing proteins for destruction by the cell's own recycling system. Both platforms aim at diseases that older drugs cannot treat well.
Eventide CIO Finny Kuruvilla, MD, PhD, has publicly framed the firm's strategy around companies "addressing the world's greatest unmet needs." The new stakes in MBX and Nurix fit that pattern — both are clinical-stage firms with high-risk, high-reward drug pipelines targeting rare or hard-to-treat conditions.
Other Big Investors Piled Into Nurix and MBX Alongside Eventide
Eventide was not alone in moving into these names. In Nurix Therapeutics, Millennium Management LLC raised its stake by 106.2% to 874,399 shares. Goldman Sachs Group Inc. increased its Nurix holdings by 9.5% to 507,471 shares, according to Watchlist News. The coordinated buying suggests broad institutional confidence in the protein degradation space.
In MBX Biosciences, Goelzer Investment Management added a new position worth about $6.99 million. Aaron Wealth Advisors boosted its MBX stake by 40% to 70,000 shares. Analyst views on MBX remain split — most firms rate it a "Strong Buy," but at least one has reaffirmed a "Sell" rating following a 19% share drop on June 12 after trial data raised safety concerns.
Kestra Medical Draws More Buyers as CEO Sells Shares
Eventide added 65,288 shares of Kestra Medical Technologies, lifting its total to 1,269,651 shares worth about $33.7 million, according to Watchlist News. Other institutions followed suit. Barclays PLC jumped its Kestra stake by 120.6% to 41,170 shares. Brown Advisory Inc. now holds 1,688,356 shares after a 34.1% increase. Piper Sandler holds an "Overweight" rating on the stock with a $30.00 price target.
CEO Brian Daniel Webster sold 15,000 shares at an average price of $20.96, collecting about $314,400. The sale was made under a pre-planned Rule 10b5-1 trading plan he adopted in September 2025. Webster had also received an RSU grant of 75,681 shares, so analysts say his long-term alignment with the company remains intact.
Eventide Dumps 80% of Celcuity Amid Weak Trial Data and Dilution Fears
Eventide cut its Celcuity stake from roughly 1.6 million shares down to 313,679 shares — an 80.3% reduction — leaving a position worth about $31.3 million, according to Watchlist News. Celcuity presented Phase 3 VIKTORIA-1 trial data at the ASCO conference in early June. Shares fell 4.7% as results met primary endpoints but disappointed investors expecting stronger-than-expected efficacy numbers.
Celcuity also announced a $400 million convertible note offering, raising dilution concerns. Despite Eventide's exit, hedge funds and institutions still own 63.33% of the company. Celcuity's balance sheet remains relatively strong, with a current ratio of 12.31 and a quick ratio of 12.31, though its debt-to-equity ratio stands at 6.04.
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