Wellington Management Group LLP Has $19.47 Million Stock Holdings in MBX Biosciences, Inc. $MBX

Key Points

• Wellington Management Group LLP reduced its stake in MBX Biosciences by 9.3% during Q1, selling 271,118 shares to maintain ownership of approximately 2.6 million shares, valued at $19.5 million.
• Institutional investors, including Driehaus Capital and Citadel Advisors, have increased their positions significantly in MBX, with Driehaus raising its stake by 61.2% recently.
• Analysts rate MBX Biosciences as a Buy, with an average target price of $37.63, indicating strong growth expectations for the clinical-stage biopharmaceutical company.

Wellington Management Group LLP lessened its holdings in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 9.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,638,521 shares of the company's stock after selling 271,118 shares during the quarter. Wellington Management Group LLP owned about 7.89% of MBX Biosciences worth $19,472,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Driehaus Capital Management LLC boosted its position in 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 position in 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 position in 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. Parkman Healthcare Partners LLC acquired a new position in MBX Biosciences during the 4th quarter worth $3,133,000. Finally, TD Asset Management Inc boosted its position in MBX Biosciences by 313.9% during the 1st quarter. TD Asset Management Inc now owns 151,504 shares of the company's stock worth $1,118,000 after acquiring an additional 114,904 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MBX. Oppenheimer initiated coverage on MBX Biosciences in a research report on Wednesday, July 16th. They set an "outperform" rating and a $38.00 price target for the company. Mizuho initiated coverage on MBX Biosciences in a report on Tuesday, August 5th. They issued an "outperform" rating and a $38.00 price objective for the company. Eight equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $37.63.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock traded up $0.82 during trading on Friday, hitting $15.09. The stock had a trading volume of 154,165 shares, compared to its average volume of 324,882. The firm has a market cap of $506.93 million and a P/E ratio of -3.32. The business has a fifty day moving average of $12.95 and a two-hundred day moving average of $10.88. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week 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.