MBX Biosciences, Inc. (NYSE:MBX) Holdings Lowered 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% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,161,527 shares of the company's stock after selling 31,411 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.48% of MBX Biosciences worth $21,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. purchased a new stake in MBX Biosciences during the 3rd quarter worth $11,691,000. Geode Capital Management LLC boosted its position in shares of MBX Biosciences by 1,093.2% in the fourth quarter. Geode Capital Management LLC now owns 265,703 shares of the company's stock worth $4,898,000 after buying an additional 243,434 shares during the period. Platinum Investment Management Ltd. boosted its position in shares of MBX Biosciences by 8.1% in the fourth quarter. Platinum Investment Management Ltd. now owns 162,090 shares of the company's stock worth $2,987,000 after buying an additional 12,090 shares during the period. Charles Schwab Investment Management Inc. purchased a new stake in shares of MBX Biosciences during the 4th quarter valued at about $1,720,000. Finally, Jane Street Group LLC acquired a new position in MBX Biosciences during the 3rd quarter worth approximately $690,000.

Wall Street Analyst Weigh In

MBX has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a "buy" rating and set a $44.00 price target on shares of MBX Biosciences in a report on Thursday, April 10th. JMP Securities assumed coverage on MBX Biosciences in a research report on Thursday, April 10th. They set a "market outperform" rating and a $38.00 target price on the stock. Finally, Citizens Jmp began coverage on MBX Biosciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $38.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, MBX Biosciences currently has an average rating of "Buy" and a consensus target price of $37.50.

Insiders Place Their Bets

In other MBX Biosciences news, Director Ora H. Pescovitz acquired 7,693 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was acquired at an average price of $5.89 per share, with a total value of $45,311.77. Following the transaction, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. This represents a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl L. Gordon bought 143,170 shares of the business's stock in a transaction on 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 acquisition, the director now directly owns 3,255,000 shares of the company's stock, valued at $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.

MBX Biosciences Stock Performance

Shares of MBX stock traded down $1.83 during trading hours on Tuesday, hitting $10.24. 298,683 shares of the company were exchanged, compared to its average volume of 299,605. MBX Biosciences, Inc. has a one year low of $4.81 and a one year high of $27.50. The business's 50-day simple moving average is $8.42 and its two-hundred day simple moving average is $13.84.

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.