Citadel Advisors LLC Grows Stock Holdings in MBX Biosciences, Inc. (NYSE:MBX)

Citadel Advisors LLC lifted its stake in shares of MBX Biosciences, Inc. (NYSE:MBX) by 62.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 220,330 shares of the company’s stock after purchasing an additional 84,722 shares during the period. Citadel Advisors LLC owned 0.66% of MBX Biosciences worth $4,061,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC acquired a new stake in MBX Biosciences during the third quarter worth about $426,000. Rhumbline Advisers purchased a new stake in shares of MBX Biosciences in the 4th quarter valued at approximately $175,000. Bank of New York Mellon Corp acquired a new stake in shares of MBX Biosciences during the 4th quarter worth approximately $441,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of MBX Biosciences during the 4th quarter worth approximately $1,720,000. Finally, Platinum Investment Management Ltd. raised its position in shares of MBX Biosciences by 8.1% during the 4th quarter. Platinum Investment Management Ltd. now owns 162,090 shares of the company’s stock valued at $2,987,000 after buying an additional 12,090 shares during the period.

Insider Transactions at MBX Biosciences

In other MBX Biosciences news, Director Carl L. Gordon bought 143,170 shares of MBX Biosciences stock in a transaction on Tuesday, February 18th. The shares were bought at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the acquisition, the director now directly owns 3,255,000 shares in the company, valued at $35,284,200. This represents a 4.60% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ora H. Pescovitz purchased 7,693 shares of the firm’s stock in a transaction on Tuesday, April 8th. The stock was acquired at an average cost of $5.89 per share, with a total value of $45,311.77. Following the transaction, the director now directly owns 24,329 shares in the company, valued at $143,297.81. This trade represents a 46.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 52.19% of the company’s stock.

MBX Biosciences Trading Up 4.8%

MBX Biosciences stock opened at $11.16 on Monday. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The firm has a 50 day moving average price of $8.58 and a 200 day moving average price of $13.11.

Wall Street Analysts Forecast Growth

MBX has been the subject of several analyst reports. Citizens Jmp assumed coverage on MBX Biosciences in a research report on Thursday, April 10th. They issued an “outperform” rating and a $38.00 price objective for the company. JMP Securities initiated coverage on MBX Biosciences in a report on Thursday, April 10th. They set a “market outperform” rating and a $38.00 price target for the company. Finally, Guggenheim reissued a “buy” rating and set a $44.00 price objective on shares of MBX Biosciences in a research report on Thursday, April 10th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target 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.