MBX Biosciences, Inc. $MBX Shares Sold by Wellington Management Group LLP

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 trimmed its position in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 9.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 7.89% of MBX Biosciences worth $19,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Driehaus Capital Management LLC raised its stake in MBX Biosciences by 61.2% in the fourth 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 grew its holdings in MBX Biosciences by 17.1% during the fourth 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 fourth quarter. Citadel Advisors LLC now owns 220,330 shares of the company's stock worth $4,061,000 after purchasing an additional 84,722 shares in the last quarter. Parkman Healthcare Partners LLC purchased a new position in MBX Biosciences during the fourth quarter worth approximately $3,133,000. Finally, TD Asset Management Inc boosted its position in MBX Biosciences by 313.9% during the first quarter. TD Asset Management Inc now owns 151,504 shares of the company's stock worth $1,118,000 after purchasing an additional 114,904 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have weighed in on MBX. Mizuho began coverage on MBX Biosciences in a research note on Tuesday, August 5th. They set an "outperform" rating and a $38.00 price objective on the stock. Oppenheimer began coverage on MBX Biosciences in a research note on Wednesday, July 16th. They set an "outperform" rating and a $38.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $37.63.

MBX Biosciences Stock Performance

Shares of NYSE:MBX traded up $0.82 on Friday, hitting $15.09. 154,165 shares of the company's stock were exchanged, compared to its average volume of 324,882. The firm's 50-day moving average is $12.84 and its 200 day moving average is $10.81. The company has a market capitalization of $506.93 million and a PE ratio of -3.32. MBX Biosciences, Inc. has a 1-year low of $4.81 and a 1-year high of $27.50.

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.