Frazier Life Sciences Management L.P. Makes New $155.50 Million Investment in MBX Biosciences, Inc. (NYSE:MBX)

Frazier Life Sciences Management L.P. acquired a new position in shares of MBX Biosciences, Inc. (NYSE:MBX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,985,347 shares of the company's stock, valued at approximately $155,499,000. MBX Biosciences accounts for 6.2% of Frazier Life Sciences Management L.P.'s holdings, making the stock its 5th biggest holding. Frazier Life Sciences Management L.P. owned 17.91% of MBX Biosciences as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in MBX Biosciences during the 3rd quarter worth about $278,000. Point72 Asset Management L.P. bought a new position in MBX Biosciences during the 3rd quarter worth about $405,000. Barclays PLC bought a new position in MBX Biosciences during the 3rd quarter worth about $426,000. Point72 DIFC Ltd bought a new position in MBX Biosciences during the 3rd quarter worth about $624,000. Finally, Jane Street Group LLC bought a new position in MBX Biosciences during the 3rd quarter worth about $690,000.

MBX Biosciences Price Performance

Shares of NYSE MBX traded down $1.18 during mid-day trading on Tuesday, hitting $21.65. The company had a trading volume of 377,229 shares, compared to its average volume of 128,148. The company has a 50-day moving average price of $21.58. MBX Biosciences, Inc. has a one year low of $15.31 and a one year high of $27.50.

MBX Biosciences (NYSE:MBX - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing the consensus estimate of ($2.72) by ($0.06). On average, sell-side analysts expect that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Guggenheim assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a "buy" rating and a $44.00 target price for the company. Stifel Nicolaus assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a "buy" rating and a $40.00 target price for the company. Jefferies Financial Group assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a "buy" rating and a $35.00 target price for the company. Finally, JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued an "overweight" rating and a $30.00 price objective for the company.

Insider Buying and Selling

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider now owns 4,552,774 shares of the company's stock, valued at approximately $72,844,384. This trade represents a 15.91 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward T. Mathers purchased 500,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the acquisition, the director now directly owns 3,614,486 shares of the company's stock, valued at $57,831,776. This trade represents a 16.05 % increase in their position. The disclosure for this purchase can be found here.

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.