MetLife Investment Management LLC Takes $133,000 Position in MBX Biosciences, Inc. (NYSE:MBX)

MetLife Investment Management LLC purchased a new position in shares of MBX Biosciences, Inc. (NYSE:MBX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,230 shares of the company’s stock, valued at approximately $133,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Corebridge Financial Inc. acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at about $103,000. Wells Fargo & Company MN purchased a new position in MBX Biosciences in the 4th quarter worth approximately $108,000. JPMorgan Chase & Co. acquired a new position in shares of MBX Biosciences during the 4th quarter worth approximately $168,000. Rhumbline Advisers purchased a new stake in shares of MBX Biosciences in the fourth quarter valued at approximately $175,000. Finally, BIT Capital GmbH acquired a new stake in shares of MBX Biosciences in the fourth quarter valued at approximately $235,000.

Analyst Upgrades and Downgrades

MBX has been the topic of a number of recent research reports. Guggenheim reissued a “buy” rating and set a $44.00 price objective on shares of MBX Biosciences in a research note on Thursday, April 10th. JMP Securities began coverage on shares of MBX Biosciences in a report on Thursday, April 10th. They issued a “market outperform” rating and a $38.00 price objective for the company. Finally, Citizens Jmp began coverage on shares of MBX Biosciences in a research note on Thursday, April 10th. They set an “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, MBX Biosciences presently has an average rating of “Buy” and an average price target of $37.50.

MBX Biosciences Stock Up 7.6 %

Shares of MBX stock opened at $11.65 on Friday. The company has a 50-day moving average of $8.50 and a two-hundred day moving average of $13.72. MBX Biosciences, Inc. has a 1-year low of $4.81 and a 1-year high of $27.50.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, Director Carl L. Gordon acquired 143,170 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was purchased at an average price of $10.84 per share, for a total transaction of $1,551,962.80. Following the completion of the acquisition, the director now owns 3,255,000 shares of the company’s stock, valued at approximately $35,284,200. This trade represents a 4.60 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ora H. Pescovitz bought 7,693 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director now owns 24,329 shares in the company, valued at $143,297.81. This trade represents a 46.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 198,365 shares of company stock worth $2,066,119. Insiders own 52.19% of the company’s stock.

About MBX Biosciences

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.