Citadel Advisors LLC Purchases 84,722 Shares of MBX Biosciences, Inc. (NYSE:MBX)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in MBX Biosciences during the 4th quarter worth approximately $27,000. Virtus ETF Advisers LLC bought a new position in MBX Biosciences during the 4th quarter worth approximately $64,000. Corebridge Financial Inc. bought a new position in MBX Biosciences during the 4th quarter worth approximately $103,000. Wells Fargo & Company MN bought a new position in MBX Biosciences in the fourth quarter valued at approximately $108,000. Finally, MetLife Investment Management LLC bought a new position in MBX Biosciences in the fourth quarter valued at approximately $133,000.

MBX Biosciences Price Performance

Shares of NYSE MBX traded down $0.36 during midday trading on Friday, reaching $12.15. The company's stock had a trading volume of 198,240 shares, compared to its average volume of 252,439. The stock has a 50 day simple moving average of $8.93 and a 200-day simple moving average of $12.89. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Analyst Ratings Changes

Several brokerages have recently issued reports on MBX. 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. JMP Securities initiated coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 target price for the company. Finally, Citizens Jmp started coverage on MBX Biosciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $38.00 price target on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, MBX Biosciences currently has an average rating of "Buy" and an average target price of $37.50.

Insider Activity at MBX Biosciences

In related news, Director Ora H. Pescovitz bought 7,693 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The shares were acquired at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the acquisition, the director now owns 24,329 shares of the company's stock, valued at approximately $143,297.81. The trade was a 46.24% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 52.19% of the stock is owned by insiders.

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.