Alyeska Investment Group L.P. Trims Stake in MBX Biosciences, Inc. (NYSE:MBX)

Alyeska Investment Group L.P. reduced its holdings in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 22.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 174,700 shares of the company's stock after selling 50,300 shares during the quarter. Alyeska Investment Group L.P. owned 0.52% of MBX Biosciences worth $3,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Franklin Resources Inc. bought a new position in shares of MBX Biosciences in the third quarter worth approximately $11,691,000. Geode Capital Management LLC increased its holdings in shares of MBX Biosciences by 1,093.2% in the 4th 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 last quarter. Charles Schwab Investment Management Inc. purchased a new stake in shares of MBX Biosciences during the 4th quarter valued at $1,720,000. Northern Trust Corp bought a new stake in shares of MBX Biosciences during the 4th quarter worth $1,671,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in MBX Biosciences in the fourth quarter worth $1,318,000.

Insider Buying and Selling

In other MBX Biosciences news, Director Carl L. Gordon bought 47,502 shares of the stock in a transaction dated Friday, February 14th. The stock was purchased at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the completion of the acquisition, the director now owns 3,205,930 shares of the company's stock, valued at approximately $31,642,529.10. This trade represents a 1.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ora H. Pescovitz bought 7,693 shares of the business's stock in a transaction dated Tuesday, April 8th. The stock was bought at an average cost of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the purchase, the director now owns 24,329 shares of the company's stock, valued at approximately $143,297.81. The trade was a 46.24% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 198,365 shares of company stock worth $2,066,119 in the last three months. 52.19% of the stock is owned by corporate insiders.

MBX Biosciences Trading Down 1.1%

Shares of MBX traded down $0.12 during trading hours on Monday, reaching $10.99. 32,772 shares of the company traded hands, compared to its average volume of 250,578. MBX Biosciences, Inc. has a 12 month low of $4.81 and a 12 month high of $27.50. The company's fifty day moving average price is $8.50 and its two-hundred day moving average price is $13.49.

Analysts Set New Price Targets

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

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.