Geode Capital Management LLC Has $4.90 Million Position in MBX Biosciences, Inc. (NYSE:MBX)

Geode Capital Management LLC raised its holdings in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 1,093.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 265,703 shares of the company's stock after buying an additional 243,434 shares during the quarter. Geode Capital Management LLC owned 0.80% of MBX Biosciences worth $4,898,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Corebridge Financial Inc. bought a new stake in MBX Biosciences in the fourth quarter valued at $103,000. JPMorgan Chase & Co. acquired a new stake in MBX Biosciences in the fourth quarter valued at approximately $168,000. Rhumbline Advisers acquired a new position in shares of MBX Biosciences during the fourth quarter worth approximately $175,000. BIT Capital GmbH bought a new position in shares of MBX Biosciences in the 4th quarter worth $235,000. Finally, Barclays PLC acquired a new stake in MBX Biosciences in the 3rd quarter valued at $426,000.

Insider Buying and Selling at MBX Biosciences

In other news, Director Carl L. Gordon purchased 143,170 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average price of $10.84 per share, for a total transaction of $1,551,962.80. Following the completion of the transaction, the director now directly owns 3,255,000 shares in the company, valued at $35,284,200. This represents a 4.60 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Ora H. Pescovitz bought 7,693 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were acquired at an average price of $5.89 per share, with a total value of $45,311.77. Following the completion of the acquisition, the director now directly owns 24,329 shares in the company, valued at $143,297.81. This represents a 46.24 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 248,365 shares of company stock valued at $2,600,619.

Analyst Upgrades and Downgrades

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

MBX Biosciences Stock Performance

MBX traded up $0.01 on Thursday, reaching $10.50. The company's stock had a trading volume of 46,944 shares, compared to its average volume of 294,028. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The stock has a 50 day moving average of $8.32 and a two-hundred day moving average of $14.23.

About MBX Biosciences

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.