Aaron Wealth Advisors LLC Takes $369,000 Position in MBX Biosciences, Inc. (NYSE:MBX)

Aaron Wealth Advisors LLC acquired a new stake in MBX Biosciences, Inc. (NYSE:MBX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 50,000 shares of the company's stock, valued at approximately $369,000. Aaron Wealth Advisors LLC owned about 0.15% of MBX Biosciences as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC increased its stake in shares of MBX Biosciences by 61.2% in the 4th quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company's stock worth $29,152,000 after acquiring an additional 600,438 shares during the last quarter. Geode Capital Management LLC boosted its holdings in MBX Biosciences by 1,093.2% during the 4th quarter. Geode Capital Management LLC now owns 265,703 shares of the company's stock valued at $4,898,000 after acquiring an additional 243,434 shares during the period. Parkman Healthcare Partners LLC purchased a new position in MBX Biosciences during the 4th quarter valued at about $3,133,000. Charles Schwab Investment Management Inc. purchased a new position in MBX Biosciences during the 4th quarter valued at about $1,720,000. Finally, Northern Trust Corp purchased a new position in shares of MBX Biosciences in the 4th quarter valued at about $1,671,000.

MBX Biosciences Trading Up 3.3%

MBX Biosciences stock traded up $0.41 during midday trading on Monday, reaching $12.88. 451,005 shares of the company were exchanged, compared to its average volume of 259,514. The firm's 50-day simple moving average is $11.50 and its 200-day simple moving average is $10.95. MBX Biosciences, Inc. has a 1 year low of $4.81 and a 1 year high of $27.50.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MBX. JMP Securities began coverage on MBX Biosciences in a research note on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 price objective for the company. Citizens Jmp assumed coverage on MBX Biosciences in a report on Thursday, April 10th. They set an "outperform" rating and a $38.00 price target for the company. Finally, Guggenheim reaffirmed a "buy" rating and set a $44.00 price target on shares of MBX Biosciences in a report on Thursday, April 10th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $37.50.

Insider Buying and Selling

In other MBX Biosciences news, Director Ora H. Pescovitz purchased 7,693 shares of the stock in a transaction on Tuesday, April 8th. The stock was bought at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the acquisition, the director directly owned 24,329 shares of the company's stock, valued at $143,297.81. This represents a 46.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 52.19% of the company's stock.

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.