Where's the Moon will have to step up quite a bit in class to be considered a Kentucky Derby (USA-I) candidate, but he is moving in the right direction after losing his first four starts. He has now won two straight, and he finished the Mine That Bird like a horse that might appreciate distance, getting the final 5/16 in about :31-1/5. While not exceptional, this is at least respectable when compared to International Star, who finished out the same part of the Risen Star Stakes (USA-II) in about :30-4/5, and is much superior to the final 5/16 of about :34 registered by Upstart in the Fountain of Youth Stakes (USA-II).
Besides class, the other question about Where's the Moon is why he is a gelding instead of an entire given the quality of his pedigree. Given that he went for only US$27,000 at the 2013 Keeneland September yearling sale, I have to suspect a conformation issue that may compromise his ability to stay sound, especially given the tendency of the Malibu Moons to become heavy-topped with age (a tendency that gelding helps to counter, as geldings generally don't acquire the heavier neck and crest of stallions). Nonetheless, this may be a youngster to keep an eye out for.