RA Capital Management L.P. Takes $39.26 Million Position in MBX Biosciences, Inc. (NYSE:MBX)

RA Capital Management L.P. bought a new position in MBX Biosciences, Inc. (NYSE:MBX - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,511,334 shares of the company's stock, valued at approximately $39,264,000. RA Capital Management L.P. owned approximately 4.52% of MBX Biosciences as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in MBX. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at about $278,000. Point72 Asset Management L.P. acquired a new stake in MBX Biosciences in the third quarter valued at approximately $405,000. Point72 DIFC Ltd bought a new stake in shares of MBX Biosciences during the third quarter valued at approximately $624,000. The Manufacturers Life Insurance Company bought a new stake in shares of MBX Biosciences during the third quarter valued at approximately $1,200,000. Finally, Maven Securities LTD acquired a new position in shares of MBX Biosciences during the third quarter worth approximately $1,299,000.

Insider Activity at MBX Biosciences

In related news, Director Edward T. Mathers acquired 500,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 3,614,486 shares in the company, valued at approximately $57,831,776. The trade was a 16.05 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider now directly owns 4,552,774 shares in the company, valued at approximately $72,844,384. This trade represents a 15.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

MBX Biosciences Price Performance

Shares of NYSE MBX traded up $0.36 during trading on Thursday, hitting $19.60. The stock had a trading volume of 58,323 shares, compared to its average volume of 120,005. The company's fifty day moving average price is $21.84. MBX Biosciences, Inc. has a 12 month low of $15.31 and a 12 month high of $27.50.

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

Wall Street Analyst Weigh In

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

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.