Insider Buying: MBX Biosciences, Inc. (NYSE:MBX) Director Acquires 47,502 Shares of Stock

MBX Biosciences, Inc. (NYSE:MBX) Director Carl L. Gordon acquired 47,502 shares of the business’s stock in a transaction on Friday, February 14th. The stock was acquired at an average cost of $9.87 per share, with a total value of $468,844.74. Following the acquisition, the director now directly owns 3,205,930 shares in the company, 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 document filed with the SEC, which is available at this link.

MBX Biosciences Trading Up 2.9 %

Shares of NYSE MBX traded up $0.32 during midday trading on Wednesday, reaching $11.22. The company’s stock had a trading volume of 120,827 shares, compared to its average volume of 319,826. The stock’s 50 day moving average price is $14.22. MBX Biosciences, Inc. has a fifty-two week low of $8.63 and a fifty-two week high of $27.50.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds have recently added to or reduced their stakes in the stock. Frazier Life Sciences Management L.P. bought a new stake in shares of MBX Biosciences during the 3rd quarter valued at $155,499,000. NEA Management Company LLC bought a new stake in MBX Biosciences during the third quarter worth about $93,904,000. Wellington Management Group LLP acquired a new stake in MBX Biosciences during the third quarter worth about $74,261,000. RA Capital Management L.P. bought a new position in MBX Biosciences in the 3rd quarter valued at about $39,264,000. Finally, Driehaus Capital Management LLC increased its holdings in MBX Biosciences by 61.2% in the 4th quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company’s stock valued at $29,152,000 after buying an additional 600,438 shares during the period.

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.