Millennium Management LLC Has $6.15 Million Stock Holdings in MBX Biosciences, Inc. (NYSE:MBX)

Millennium Management LLC lowered its position in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 333,642 shares of the company's stock after selling 106,769 shares during the quarter. Millennium Management LLC owned 1.00% of MBX Biosciences worth $6,149,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MBX. Charles Schwab Investment Management Inc. acquired a new stake in MBX Biosciences during the 4th quarter valued at $1,720,000. Citadel Advisors LLC lifted its holdings in MBX Biosciences by 62.5% during the 4th quarter. Citadel Advisors LLC now owns 220,330 shares of the company's stock valued at $4,061,000 after purchasing an additional 84,722 shares during the last quarter. Rhumbline Advisers acquired a new stake in MBX Biosciences during the 4th quarter valued at $175,000. Wells Fargo & Company MN acquired a new stake in MBX Biosciences during the 4th quarter valued at $108,000. Finally, Northern Trust Corp acquired a new stake in MBX Biosciences during the 4th quarter valued at $1,671,000.

MBX Biosciences Stock Down 1.5%

MBX stock traded down $0.19 during trading hours on Friday, hitting $12.53. 177,747 shares of the stock were exchanged, compared to its average volume of 250,891. The company has a 50-day simple moving average of $9.38 and a two-hundred day simple moving average of $12.42. MBX Biosciences, Inc. has a 12 month low of $4.81 and a 12 month high of $27.50.

Insider Buying and Selling

In related 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 bought at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the transaction, the director now owns 24,329 shares of the company's stock, valued at approximately $143,297.81. This trade represents a 46.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 52.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MBX has been the subject of several research reports. Citizens Jmp initiated 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. Guggenheim reiterated a "buy" rating and set a $44.00 price objective on shares of MBX Biosciences in a research report on Thursday, April 10th. 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 objective on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently 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.