MBX Biosciences, Inc. (NYSE:MBX) Holdings Trimmed by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its position in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,161,527 shares of the company's stock after selling 31,411 shares during the period. Price T Rowe Associates Inc. MD owned about 3.48% of MBX Biosciences worth $21,408,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Franklin Resources Inc. acquired a new stake in MBX Biosciences in the 3rd quarter valued at $11,691,000. Geode Capital Management LLC lifted its position in shares of MBX Biosciences by 1,093.2% during the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company's stock worth $4,898,000 after purchasing an additional 243,434 shares in the last quarter. Charles Schwab Investment Management Inc. purchased a new position in shares of MBX Biosciences in the fourth quarter valued at $1,720,000. Jane Street Group LLC acquired a new stake in MBX Biosciences during the 3rd quarter valued at $690,000. Finally, Norges Bank purchased a new stake in MBX Biosciences during the 4th quarter worth $461,000.

Insider Buying and Selling

In other MBX Biosciences news, Director Ora H. Pescovitz purchased 7,693 shares of the business's stock in a transaction on Tuesday, April 8th. The stock was bought at an average cost of $5.89 per share, with a total value of $45,311.77. Following the acquisition, the director now owns 24,329 shares of the company's stock, valued at $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Carl L. Gordon acquired 143,170 shares of the stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the purchase, the director now directly owns 3,255,000 shares in the company, valued at approximately $35,284,200. The trade was a 4.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 198,365 shares of company stock valued at $2,066,119 in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citizens Jmp assumed coverage on shares of MBX Biosciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $38.00 price target for the company. Guggenheim reissued a "buy" rating and issued a $44.00 price objective on shares of MBX Biosciences in a report on Thursday, April 10th. Finally, JMP Securities started coverage on MBX Biosciences in a report on Thursday, April 10th. They set a "market outperform" rating and a $38.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $37.50.

MBX Biosciences Trading Up 0.4 %

NYSE:MBX traded up $0.05 during midday trading on Wednesday, reaching $10.87. 17,426 shares of the company traded hands, compared to its average volume of 252,021. MBX Biosciences, Inc. has a twelve month low of $4.81 and a twelve month high of $27.50. The company has a fifty day moving average price of $8.44 and a 200 day moving average price of $13.82.

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.