Wells Fargo & Company MN Purchases Shares of 5,844 MBX Biosciences, Inc. (NYSE:MBX)

Wells Fargo & Company MN purchased a new stake in MBX Biosciences, Inc. (NYSE:MBX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,844 shares of the company’s stock, valued at approximately $108,000.

Several other institutional investors and hedge funds also recently modified their holdings of MBX. Corebridge Financial Inc. acquired a new position in MBX Biosciences during the fourth quarter worth approximately $103,000. JPMorgan Chase & Co. acquired a new position in MBX Biosciences during the fourth quarter worth approximately $168,000. Rhumbline Advisers acquired a new position in MBX Biosciences during the fourth quarter worth approximately $175,000. BIT Capital GmbH acquired a new position in MBX Biosciences during the fourth quarter worth approximately $235,000. Finally, Barclays PLC acquired a new position in MBX Biosciences during the third quarter worth approximately $426,000.

MBX Biosciences Stock Performance

MBX stock opened at $11.10 on Monday. MBX Biosciences, Inc. has a 52-week low of $4.81 and a 52-week high of $27.50. The company’s 50 day simple moving average is $8.50 and its 200-day simple moving average is $13.49.

Insiders Place Their Bets

In related news, Director Carl L. Gordon bought 47,502 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was purchased at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the purchase, the director now directly owns 3,205,930 shares in the company, valued at $31,642,529.10. This trade represents a 1.50% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ora H. Pescovitz acquired 7,693 shares of the company’s stock in a transaction dated Tuesday, April 8th. The stock was acquired 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 in the company, valued at approximately $143,297.81. This represents a 46.24% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 198,365 shares of company stock valued at $2,066,119 over the last ninety days. Corporate insiders own 52.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MBX. JMP Securities began 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. Guggenheim reissued a “buy” rating and issued a $44.00 price objective on shares of MBX Biosciences in a research report on Thursday, April 10th. Finally, Citizens Jmp began coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They issued an “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 presently has an average rating of “Buy” and an average price target of $37.50.

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.