Schonfeld Strategic Advisors LLC Takes Position in MBX Biosciences, Inc. (NYSE:MBX)

Schonfeld Strategic Advisors LLC bought a new position in shares of MBX Biosciences, Inc. (NYSE:MBX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 71,500 shares of the company’s stock, valued at approximately $1,318,000.

A number of other institutional investors have also recently added to or reduced their stakes in MBX. Franklin Resources Inc. bought a new position in shares of MBX Biosciences during the third quarter valued at $11,691,000. Geode Capital Management LLC lifted its holdings in MBX Biosciences by 1,093.2% during 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 period. Platinum Investment Management Ltd. lifted its holdings in MBX Biosciences by 8.1% during the 4th 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. bought a new stake in shares of MBX Biosciences in the 4th quarter valued at about $1,720,000. Finally, Northern Trust Corp acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at about $1,671,000.

MBX Biosciences Price Performance

Shares of MBX opened at $10.90 on Wednesday. MBX Biosciences, Inc. has a 52 week low of $4.81 and a 52 week high of $27.50. The stock has a 50 day moving average price of $8.44 and a two-hundred day moving average price of $13.82.

Analyst Ratings Changes

Several analysts recently commented on MBX shares. Citizens Jmp assumed coverage on MBX Biosciences in a report on Thursday, April 10th. They issued an “outperform” rating and a $38.00 target price on the stock. Guggenheim reissued a “buy” rating and issued a $44.00 price target on shares of MBX Biosciences in a research note on Thursday, April 10th. Finally, JMP Securities started 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 objective on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $37.50.

Insider Activity at MBX Biosciences

In related news, Director Ora H. Pescovitz acquired 7,693 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were acquired at an average cost of $5.89 per share, for a total transaction of $45,311.77. Following the purchase, the director now owns 24,329 shares in the company, valued at approximately $143,297.81. The trade was a 46.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carl L. Gordon bought 143,170 shares of MBX Biosciences stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average price of $10.84 per share, with a total value of $1,551,962.80. Following the purchase, the director now owns 3,255,000 shares in the company, valued at approximately $35,284,200. This represents a 4.60 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 198,365 shares of company stock valued at $2,066,119 over the last 90 days.

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.