5,593 Shares in MBX Biosciences, Inc. (NYSE:MBX) Acquired by Corebridge Financial Inc.

Corebridge Financial Inc. bought a new position in MBX Biosciences, Inc. (NYSE:MBX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,593 shares of the company’s stock, valued at approximately $103,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in shares of MBX Biosciences in the 3rd quarter worth approximately $690,000. Barclays PLC purchased a new stake in MBX Biosciences during the third quarter valued at approximately $426,000. Geode Capital Management LLC bought a new position in MBX Biosciences in the third quarter worth approximately $579,000. Teachers Retirement System of The State of Kentucky bought a new position in MBX Biosciences in the third quarter worth approximately $694,000. Finally, Franklin Resources Inc. purchased a new position in shares of MBX Biosciences during the 3rd quarter worth $11,691,000.

MBX Biosciences Trading Down 0.7 %

Shares of MBX stock opened at $7.38 on Wednesday. The stock has a fifty day simple moving average of $8.71 and a two-hundred day simple moving average of $15.31. MBX Biosciences, Inc. has a 52-week low of $4.81 and a 52-week high of $27.50.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citizens Jmp started coverage on MBX Biosciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $38.00 target price on the stock. JMP Securities initiated coverage on MBX Biosciences in a research report on Thursday, April 10th. They issued a “market outperform” rating and a $38.00 price target for the company. Finally, Guggenheim reaffirmed a “buy” rating and set a $44.00 price objective on shares of MBX Biosciences in a research report on Thursday, April 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $37.50.

Insider Buying and Selling

In related news, Director Carl L. Gordon purchased 47,502 shares of MBX Biosciences stock in a transaction on Friday, February 14th. The shares were bought at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the acquisition, the director now owns 3,205,930 shares in the company, valued at approximately $31,642,529.10. The trade was a 1.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ora H. Pescovitz acquired 7,693 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were bought at an average cost of $5.89 per share, with a total value of $45,311.77. Following the acquisition, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 248,365 shares of company stock worth $2,600,619.

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.