Driehaus Capital Management LLC Acquires 600,438 Shares of MBX Biosciences, Inc. (NYSE:MBX)

Driehaus Capital Management LLC increased its holdings in MBX Biosciences, Inc. (NYSE:MBX) by 61.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,581,760 shares of the company’s stock after purchasing an additional 600,438 shares during the period. Driehaus Capital Management LLC owned approximately 4.73% of MBX Biosciences worth $29,152,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. acquired a new position in shares of MBX Biosciences during the 4th quarter valued at about $1,720,000. Geode Capital Management LLC acquired a new position in MBX Biosciences during the third quarter valued at approximately $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. acquired a new position in MBX Biosciences in the 3rd quarter valued at $11,691,000. Finally, Rhumbline Advisers acquired a new position in MBX Biosciences during the 4th quarter worth $175,000.

MBX Biosciences Stock Up 7.6 %

MBX stock opened at $11.65 on Friday. The business has a fifty day moving average price of $8.50 and a 200 day moving average price of $13.72. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Insider Activity

In other news, Director Carl L. Gordon purchased 47,502 shares of MBX Biosciences stock in a transaction dated Friday, February 14th. The shares were bought at an average cost of $9.87 per share, with a total value of $468,844.74. Following the completion of the transaction, the director now directly owns 3,205,930 shares in the company, valued at $31,642,529.10. This trade represents a 1.50 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ora H. Pescovitz bought 7,693 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were bought at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the completion of the acquisition, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. This trade represents a 46.24 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 198,365 shares of company stock valued at $2,066,119 over the last 90 days. 52.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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