MBX Biosciences, Inc. (NYSE:MBX) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of MBX Biosciences, Inc. (NYSE:MBX) by 1,093.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,703 shares of the company’s stock after purchasing an additional 243,434 shares during the period. Geode Capital Management LLC owned 0.80% of MBX Biosciences worth $4,898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MBX. Corebridge Financial Inc. acquired a new position in shares of MBX Biosciences during the 4th quarter valued at about $103,000. JPMorgan Chase & Co. acquired a new position in MBX Biosciences during the fourth quarter worth approximately $168,000. Rhumbline Advisers purchased a new position in MBX Biosciences during the fourth quarter worth approximately $175,000. Platinum Investment Management Ltd. raised its stake in MBX Biosciences by 8.1% during the fourth quarter. Platinum Investment Management Ltd. now owns 162,090 shares of the company’s stock worth $2,987,000 after purchasing an additional 12,090 shares during the period. Finally, BIT Capital GmbH acquired a new position in shares of MBX Biosciences in the 4th quarter valued at $235,000.

Insider Activity

In other MBX Biosciences news, Director Ora H. Pescovitz acquired 7,693 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The shares were purchased at an average price of $5.89 per share, with a total value of $45,311.77. Following the completion of the transaction, the director now owns 24,329 shares in the company, valued at $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO P. Kent Hawryluk acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was acquired at an average price of $10.69 per share, with a total value of $534,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 448,277 shares of the company’s stock, valued at $4,792,081.13. This represents a 12.55 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 248,365 shares of company stock worth $2,600,619 over the last quarter.

MBX Biosciences Trading Down 1.1 %

NYSE MBX opened at $9.17 on Friday. MBX Biosciences, Inc. has a 12 month low of $4.81 and a 12 month high of $27.50. The company’s 50 day simple moving average is $8.40 and its 200 day simple moving average is $14.45.

Wall Street Analyst Weigh In

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

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.