You can vectorize operations in the code -
function [sMnew] = Cubic(k,M)
n = 3*k+1;
x = sym('x');
c = sym( 'c', [1 M+3]);
%Indices
k = 2:M+3;
%Vectorized sum
CC = x + sum(c(1,k).*x.^(-k+1));
%Define powers for which to substitute
vec = -1*(M:4*M+8);
%Substitute directly at once
sMnew = subs(z, x.^(vec), ones(size(vec)));
end
