NEA Management Company LLC Invests $93.90 Million in MBX Biosciences, Inc. (NYSE:MBX)

NEA Management Company LLC bought a new stake in MBX Biosciences, Inc. (NYSE:MBX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,614,486 shares of the company's stock, valued at approximately $93,904,000. MBX Biosciences makes up approximately 5.1% of NEA Management Company LLC's investment portfolio, making the stock its 7th largest position. NEA Management Company LLC owned approximately 10.82% of MBX Biosciences as of its most recent SEC filing.

Separately, The Manufacturers Life Insurance Company acquired a new position in shares of MBX Biosciences in the 3rd quarter worth approximately $1,200,000.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued an "overweight" rating and a $30.00 price objective for the company. Guggenheim started coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They set a "buy" rating and a $44.00 price objective for the company. Stifel Nicolaus started coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They issued a "buy" rating and a $40.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $35.00 price target on the stock.

MBX Biosciences Trading Down 3.0 %

Shares of NYSE:MBX traded down $0.63 on Friday, hitting $20.34. The company had a trading volume of 83,444 shares, compared to its average volume of 99,740. The stock's 50-day moving average is $22.04. MBX Biosciences, Inc. has a 1 year low of $15.31 and a 1 year high of $27.50.

MBX Biosciences (NYSE:MBX - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.72) by ($0.06). Equities analysts forecast that MBX Biosciences, Inc. will post -13.21 EPS for the current fiscal year.

Insider Buying and Selling at MBX Biosciences

In related news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost 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 in the company, valued at approximately $72,844,384. This trade represents a 15.91 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward T. Mathers bought 500,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $8,000,000.00. Following the transaction, the director now directly owns 3,614,486 shares of the company's stock, valued at approximately $57,831,776. This represents a 16.05 % increase in their position. The disclosure for this purchase can be found here.

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.