Citadel Advisors LLC Has $4.06 Million Holdings in MBX Biosciences, Inc. (NYSE:MBX)

Citadel Advisors LLC grew its holdings in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 62.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 220,330 shares of the company's stock after purchasing 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 filing with the SEC.

A number of other institutional investors have also made changes to their positions in MBX. BNP Paribas Financial Markets acquired a new position in shares of MBX Biosciences during the 4th quarter worth about $27,000. Virtus ETF Advisers LLC acquired a new position in MBX Biosciences in the 4th quarter valued at approximately $64,000. The Manufacturers Life Insurance Company raised its holdings in MBX Biosciences by 7.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 49,675 shares of the company's stock valued at $916,000 after acquiring an additional 3,481 shares in the last quarter. Corebridge Financial Inc. acquired a new position in MBX Biosciences in the 4th quarter valued at approximately $103,000. Finally, Wells Fargo & Company MN acquired a new position in MBX Biosciences in the 4th quarter valued at approximately $108,000.

Analysts Set New Price Targets

Several research firms have commented on MBX. JMP Securities initiated coverage on MBX Biosciences in a report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 price target for the company. Guggenheim reiterated a "buy" rating and issued a $44.00 price objective on shares of MBX Biosciences in a research note on Thursday, April 10th. Finally, Citizens Jmp initiated coverage on MBX Biosciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $38.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently 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 firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were acquired at an average cost of $5.89 per share, for a total transaction of $45,311.77. Following the transaction, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. The trade was a 46.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 52.19% of the stock is owned by corporate insiders.

MBX Biosciences Stock Down 2.9%

NYSE MBX traded down $0.36 during trading hours on Friday, reaching $12.15. 198,240 shares of the company's stock were exchanged, compared to its average volume of 252,439. MBX Biosciences, Inc. has a one year low of $4.81 and a one year high of $27.50. The firm has a fifty day moving average of $8.93 and a 200-day moving average of $12.82.

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.