Millennium Management LLC Sells 106,769 Shares of MBX Biosciences, Inc. (NYSE:MBX)

Millennium Management LLC reduced its stake in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 333,642 shares of the company's stock after selling 106,769 shares during the quarter. Millennium Management LLC owned approximately 1.00% of MBX Biosciences worth $6,149,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MBX. Charles Schwab Investment Management Inc. purchased a new stake in MBX Biosciences in the 4th quarter worth $1,720,000. Citadel Advisors LLC grew 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 buying an additional 84,722 shares in the last quarter. Rhumbline Advisers purchased a new stake in MBX Biosciences during the 4th quarter valued at approximately $175,000. Wells Fargo & Company MN bought a new stake in shares of MBX Biosciences during the fourth quarter valued at approximately $108,000. Finally, Geode Capital Management LLC boosted its position 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.

Insiders Place Their Bets

In other news, Director Ora H. Pescovitz purchased 7,693 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were acquired at an average price of $5.89 per share, with a total value of $45,311.77. Following the transaction, the director now owns 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 52.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MBX. Citizens Jmp initiated coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $38.00 price target for the company. Guggenheim reissued a "buy" rating and set a $44.00 price target on shares of MBX Biosciences in a research note on Thursday, April 10th. Finally, JMP Securities began coverage on MBX Biosciences in a research report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 price objective on the stock. Six 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 target price of $37.50.

MBX Biosciences Stock Down 1.5%

Shares of NYSE MBX traded down $0.19 during trading hours on Friday, reaching $12.53. The stock had a trading volume of 177,747 shares, compared to its average volume of 250,891. MBX Biosciences, Inc. has a 52-week low of $4.81 and a 52-week high of $27.50. The business's fifty day moving average price is $9.28 and its two-hundred day moving average price is $12.60.

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.