Northern Trust Corp Acquires New Stake in MBX Biosciences, Inc. (NYSE:MBX)

Northern Trust Corp purchased a new stake in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 90,682 shares of the company's stock, valued at approximately $1,671,000. Northern Trust Corp owned about 0.27% of MBX Biosciences at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Virtus ETF Advisers LLC bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $64,000. Corebridge Financial Inc. bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $103,000. Wells Fargo & Company MN bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $108,000. MetLife Investment Management LLC bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $133,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of MBX Biosciences during the 4th quarter valued at $168,000.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock traded down $0.19 during trading on Friday, hitting $12.53. 177,747 shares of the stock traded hands, compared to its average volume of 250,891. The firm's fifty day moving average is $9.38 and its 200-day moving average is $12.47. MBX Biosciences, Inc. has a 52 week low of $4.81 and a 52 week high of $27.50.

Insider Buying and Selling

In related news, Director Ora H. Pescovitz purchased 7,693 shares of MBX Biosciences 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 $143,297.81. The trade was a 46.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 52.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MBX shares. JMP Securities started coverage on MBX Biosciences in a research note on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 target price on the stock. Citizens Jmp started coverage on MBX Biosciences in a research note on Thursday, April 10th. They issued an "outperform" rating and a $38.00 target price on the stock. Finally, Guggenheim restated a "buy" rating and issued a $44.00 target price on shares of MBX Biosciences in a research note on Thursday, April 10th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $37.50.

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.