71,500 Shares in MBX Biosciences, Inc. (NYSE:MBX) Bought by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC bought a new stake in MBX Biosciences, Inc. (NYSE:MBX - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,500 shares of the company's stock, valued at approximately $1,318,000. Schonfeld Strategic Advisors LLC owned about 0.21% of MBX Biosciences at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Geode Capital Management LLC bought a new stake in MBX Biosciences in the 3rd quarter worth about $579,000. Barclays PLC bought a new position in shares of MBX Biosciences in the third quarter valued at approximately $426,000. Franklin Resources Inc. purchased a new stake in shares of MBX Biosciences during the third quarter valued at approximately $11,691,000. Rhumbline Advisers bought a new stake in MBX Biosciences during the fourth quarter worth $175,000. Finally, Bank of New York Mellon Corp purchased a new position in MBX Biosciences in the fourth quarter worth $441,000.

Analyst Ratings Changes

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

Insider Buying and Selling at MBX Biosciences

In related news, Director Ora H. Pescovitz acquired 7,693 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were bought at an average cost of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the transaction, the director now owns 24,329 shares in the company, valued at approximately $143,297.81. This trade 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 available through this hyperlink. Also, Director Carl L. Gordon bought 47,502 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was bought at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the completion of the purchase, the director now directly owns 3,205,930 shares of the company's stock, valued at $31,642,529.10. This represents a 1.50% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 198,365 shares of company stock valued at $2,066,119 in the last three months. Company insiders own 52.19% of the company's stock.

MBX Biosciences Price Performance

NYSE:MBX traded down $0.12 during mid-day trading on Monday, hitting $10.99. 32,772 shares of the stock traded hands, compared to its average volume of 250,577. The business's 50-day moving average price is $8.50 and its 200 day moving average price is $13.49. MBX Biosciences, Inc. has a 12-month low of $4.81 and a 12-month high of $27.50.

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.