MPM Bioimpact LLC Purchases Shares of 1,132,950 MBX Biosciences, Inc. $MBX

Key Points

• MPM Bioimpact LLC acquired 1,132,950 shares of MBX Biosciences, valued at approximately $8,361,000, giving it a 3.39% stake in the company.
• Multiple institutional investors have increased their stakes in MBX Biosciences, with Driehaus Capital Management LLC boosting its holdings by 61.2% in the last quarter.
• Analysts have a consensus "Buy" rating for MBX Biosciences, with a price target averaging $37.63, following positive coverage from firms like Mizuho and Oppenheimer.

MPM Bioimpact LLC purchased a new stake in MBX Biosciences, Inc. (NYSE:MBX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,132,950 shares of the company's stock, valued at approximately $8,361,000. MPM Bioimpact LLC owned approximately 3.39% of MBX Biosciences as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Driehaus Capital Management LLC boosted its stake in shares of MBX Biosciences by 61.2% during 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 period. Woodline Partners LP boosted its stake in shares of MBX Biosciences by 17.1% during the 4th quarter. Woodline Partners LP now owns 608,721 shares of the company's stock worth $11,219,000 after acquiring an additional 89,046 shares during the period. Citadel Advisors LLC boosted its stake in shares of MBX Biosciences by 62.5% during the 4th quarter. Citadel Advisors LLC now owns 220,330 shares of the company's stock worth $4,061,000 after acquiring an additional 84,722 shares during the period. Affinity Asset Advisors LLC bought a new position in shares of MBX Biosciences during the 1st quarter worth approximately $1,292,000. Finally, Parkman Healthcare Partners LLC bought a new position in shares of MBX Biosciences during the 4th quarter worth approximately $3,133,000.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho assumed coverage on MBX Biosciences in a research note on Tuesday, August 5th. They set an "outperform" rating and a $38.00 target price for the company. Oppenheimer assumed coverage on MBX Biosciences in a report on Wednesday, July 16th. They set an "outperform" rating and a $38.00 price target for the company. Eight equities research 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 price target of $37.63.

MBX Biosciences Trading Up 5.7%

NYSE:MBX opened at $15.09 on Tuesday. The stock has a market cap of $506.93 million and a P/E ratio of -3.32. The stock has a 50 day simple moving average of $13.06 and a 200 day simple moving average of $10.91. MBX Biosciences, Inc. has a 1-year low of $4.81 and a 1-year high of $27.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.