7,230 Shares in MBX Biosciences, Inc. (NYSE:MBX) Bought by MetLife Investment Management LLC

MetLife Investment Management LLC acquired a new stake in shares of MBX Biosciences, Inc. (NYSE:MBX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,230 shares of the company’s stock, valued at approximately $133,000.

Other large investors have also added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new position in MBX Biosciences during the 3rd quarter worth $11,691,000. Geode Capital Management LLC grew its stake in shares of MBX Biosciences by 1,093.2% during the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company’s stock worth $4,898,000 after acquiring an additional 243,434 shares during the last quarter. Platinum Investment Management Ltd. increased its holdings in shares of MBX Biosciences by 8.1% during the fourth quarter. Platinum Investment Management Ltd. now owns 162,090 shares of the company’s stock valued at $2,987,000 after acquiring an additional 12,090 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new position in shares of MBX Biosciences during the fourth quarter valued at about $1,720,000. Finally, Marshall Wace LLP raised its position in shares of MBX Biosciences by 115.8% in the 4th quarter. Marshall Wace LLP now owns 25,900 shares of the company’s stock valued at $477,000 after purchasing an additional 13,900 shares during the last quarter.

Insider Buying and Selling at MBX Biosciences

In other news, Director Carl L. Gordon bought 143,170 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $10.84 per share, with a total value 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 trade represents a 4.60 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ora H. Pescovitz bought 7,693 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was purchased at an average price of $5.89 per share, with a total value of $45,311.77. Following the completion of the purchase, the director now owns 24,329 shares in the company, valued at approximately $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. In the last quarter, insiders purchased 198,365 shares of company stock worth $2,066,119. Insiders own 52.19% of the company’s stock.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock opened at $11.65 on Friday. The firm has a fifty day moving average price of $8.50 and a 200 day moving average price of $13.72. MBX Biosciences, Inc. has a 1 year low of $4.81 and a 1 year high of $27.50.

Analyst Ratings Changes

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

About MBX Biosciences

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.