Wellington Management Group LLP Sells 28,214 Shares of MBX Biosciences, Inc. (NYSE:MBX)

Wellington Management Group LLP decreased its holdings in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,909,639 shares of the company's stock after selling 28,214 shares during the quarter. Wellington Management Group LLP owned 8.71% of MBX Biosciences worth $52,992,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of MBX. Driehaus Capital Management LLC lifted its holdings 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 valued at $29,152,000 after buying an additional 600,438 shares during the last quarter. Woodline Partners LP lifted its holdings 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 valued at $11,219,000 after buying an additional 89,046 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of MBX Biosciences by 1,093.2% during the 4th quarter. Geode Capital Management LLC now owns 265,703 shares of the company's stock valued at $4,898,000 after buying an additional 243,434 shares during the last quarter. Citadel Advisors LLC lifted its holdings 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 valued at $4,061,000 after buying an additional 84,722 shares during the last quarter. Finally, Parkman Healthcare Partners LLC acquired a new stake in shares of MBX Biosciences during the 4th quarter valued at about $3,133,000.

Analysts Set New Price Targets

MBX has been the subject of several research reports. JMP Securities initiated coverage on MBX Biosciences in a report on Thursday, April 10th. They set a "market outperform" rating and a $38.00 price target for the company. Citizens Jmp initiated coverage on MBX Biosciences in a report on Thursday, April 10th. They issued an "outperform" rating and a $38.00 target price for the company. Finally, Guggenheim reaffirmed a "buy" rating and issued a $44.00 price target on shares of MBX Biosciences in a research report on Thursday, April 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $37.50.

Insider Activity

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

MBX Biosciences Stock Performance

Shares of MBX traded up $0.42 on Monday, reaching $12.84. 208,260 shares of the stock traded hands, compared to its average volume of 250,749. MBX Biosciences, Inc. has a 12 month low of $4.81 and a 12 month high of $27.50. The stock's 50-day moving average price is $9.38 and its 200-day moving average price is $12.42.

MBX Biosciences Company 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.