Wellington Management Group LLP Reduces Holdings in MBX Biosciences, Inc. (NYSE:MBX)

Wellington Management Group LLP lowered its holdings in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,909,639 shares of the company's stock after selling 28,214 shares during the period. Wellington Management Group LLP owned 8.71% of MBX Biosciences worth $52,992,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new stake in shares of MBX Biosciences in the 4th quarter worth $27,000. Virtus ETF Advisers LLC acquired a new stake in shares of MBX Biosciences in the 4th quarter worth $64,000. Deutsche Bank AG purchased a new position in shares of MBX Biosciences in the 4th quarter valued at about $80,000. Corebridge Financial Inc. purchased a new position in shares of MBX Biosciences in the 4th quarter valued at about $103,000. Finally, Wells Fargo & Company MN purchased a new position in shares of MBX Biosciences in the 4th quarter valued at about $108,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MBX shares. JMP Securities started coverage on shares of 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 target on shares of MBX Biosciences in a report on Thursday, April 10th. Finally, Citizens Jmp started coverage on shares of MBX Biosciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $38.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $37.50.

MBX Biosciences Price Performance

Shares of MBX traded down $0.08 during mid-day trading on Tuesday, hitting $13.06. The company had a trading volume of 44,959 shares, compared to its average volume of 250,309. MBX Biosciences, Inc. has a 1-year low of $4.81 and a 1-year high of $27.50. The business's 50-day simple moving average is $9.48 and its 200-day simple moving average is $12.39.

Insider Buying and Selling at MBX Biosciences

In other MBX Biosciences news, Director Ora H. Pescovitz purchased 7,693 shares of MBX Biosciences stock in a transaction on Tuesday, April 8th. The shares were purchased at an average cost of $5.89 per share, with a total value of $45,311.77. Following the completion of the transaction, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. This represents a 46.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 52.19% of the stock is currently owned by corporate insiders.

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.