25,000 Shares in MBX Biosciences, Inc. (NYSE:MBX) Acquired by Norges Bank

Norges Bank bought a new position in MBX Biosciences, Inc. (NYSE:MBX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,000 shares of the company’s stock, valued at approximately $461,000. Norges Bank owned 0.07% of MBX Biosciences as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of MBX. Franklin Resources Inc. purchased a new stake in shares of MBX Biosciences in the third quarter valued at $11,691,000. Charles Schwab Investment Management Inc. acquired a new stake in MBX Biosciences in the 4th quarter worth about $1,720,000. Teachers Retirement System of The State of Kentucky purchased a new stake in MBX Biosciences in the 3rd quarter valued at about $694,000. Jane Street Group LLC acquired a new position in shares of MBX Biosciences during the 3rd quarter valued at about $690,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of MBX Biosciences during the 4th quarter worth about $441,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MBX. Citizens Jmp began coverage on shares of MBX Biosciences in a report on Thursday. They issued an “outperform” rating and a $38.00 target price for the company. Guggenheim reissued a “buy” rating and set a $44.00 price objective on shares of MBX Biosciences in a research note on Thursday. Finally, JMP Securities assumed coverage on MBX Biosciences in a research report on Thursday. They issued a “market outperform” rating and a $38.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $37.50.

MBX Biosciences Stock Up 18.2 %

Shares of MBX stock opened at $7.41 on Friday. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The firm’s 50 day moving average price is $8.88 and its two-hundred day moving average price is $15.55.

Insider Activity

In related news, Director Carl L. Gordon bought 143,170 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was bought at an average price of $10.84 per share, with a total value of $1,551,962.80. Following the completion of the transaction, the director now directly owns 3,255,000 shares of the company’s stock, valued at approximately $35,284,200. This represents a 4.60 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ora H. Pescovitz bought 7,693 shares of the stock in a transaction dated Tuesday, April 8th. The stock was bought at an average price of $5.89 per share, with a total value of $45,311.77. Following the purchase, the director now owns 24,329 shares of the company’s stock, valued at approximately $143,297.81. This represents a 46.24 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 248,365 shares of company stock valued at $2,600,619.

MBX Biosciences Company 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.