Wellington Management Group LLP Cuts Stake in MBX Biosciences, Inc. (NYSE:MBX)

Wellington Management Group LLP lessened its holdings in MBX Biosciences, Inc. (NYSE:MBX) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,909,639 shares of the company’s stock after selling 28,214 shares during the quarter. Wellington Management Group LLP owned 0.09% of MBX Biosciences worth $52,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in MBX. The Manufacturers Life Insurance Company purchased a new position in shares of MBX Biosciences in the third quarter worth about $1,200,000. Point72 Asset Management L.P. bought a new position in MBX Biosciences during the 3rd quarter worth approximately $405,000. Soros Fund Management LLC purchased a new position in MBX Biosciences in the 3rd quarter worth approximately $779,000. Jane Street Group LLC bought a new stake in MBX Biosciences in the third quarter valued at approximately $690,000. Finally, Barclays PLC purchased a new stake in shares of MBX Biosciences during the third quarter valued at approximately $426,000.

MBX Biosciences Stock Down 5.2 %

Shares of NYSE MBX opened at $6.04 on Friday. The firm’s fifty day moving average is $9.49 and its 200 day moving average is $16.28. MBX Biosciences, Inc. has a 52 week low of $5.66 and a 52 week high of $27.50.

Insider Buying and Selling at MBX Biosciences

In other MBX Biosciences news, CEO P. Kent Hawryluk acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were purchased at an average cost of $10.69 per share, for a total transaction of $534,500.00. Following the transaction, the chief executive officer now owns 448,277 shares in the company, valued at $4,792,081.13. This represents a 12.55 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl L. Gordon bought 47,502 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were acquired at an average price of $9.87 per share, with a total value of $468,844.74. Following the acquisition, the director now owns 3,205,930 shares of the company’s stock, valued at $31,642,529.10. This represents a 1.50 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 240,672 shares of company stock worth $2,555,308.

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.