Virtus ETF Advisers LLC Buys New Holdings in MBX Biosciences, Inc. (NYSE:MBX)

Virtus ETF Advisers LLC bought a new stake in MBX Biosciences, Inc. (NYSE:MBX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,468 shares of the company’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC acquired a new position in MBX Biosciences during the 4th quarter valued at about $133,000. Marshall Wace LLP boosted its stake in MBX Biosciences by 115.8% during the 4th quarter. Marshall Wace LLP now owns 25,900 shares of the company’s stock valued at $477,000 after purchasing an additional 13,900 shares during the last quarter. Wells Fargo & Company MN acquired a new position in MBX Biosciences during the 4th quarter valued at about $108,000. Geode Capital Management LLC boosted its stake in MBX Biosciences by 1,093.2% during the 4th quarter. Geode Capital Management LLC now owns 265,703 shares of the company’s stock valued at $4,898,000 after purchasing an additional 243,434 shares during the last quarter. Finally, Norges Bank acquired a new position in MBX Biosciences during the 4th quarter valued at about $461,000.

MBX Biosciences Price Performance

Shares of MBX opened at $9.35 on Tuesday. The business has a 50-day moving average of $8.36 and a 200 day moving average of $14.28. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50.

Wall Street Analysts Forecast Growth

MBX has been the subject of a number of analyst reports. Citizens Jmp began coverage on MBX Biosciences in a research note on Thursday, April 10th. They set an “outperform” rating and a $38.00 price target for the company. Guggenheim restated a “buy” rating and issued a $44.00 target price on shares of MBX Biosciences in a research note on Thursday, April 10th. Finally, JMP Securities began coverage on MBX Biosciences in a research note on Thursday, April 10th. They issued a “market outperform” rating and a $38.00 target price on the stock. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $37.50.

Insider Buying and Selling

In related news, CEO P. Kent Hawryluk bought 50,000 shares of MBX Biosciences stock in a transaction on Tuesday, February 4th. The stock was acquired at an average price of $10.69 per share, with a total value of $534,500.00. Following the acquisition, the chief executive officer now directly owns 448,277 shares of the company’s stock, 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 through this hyperlink. Also, Director Ora H. Pescovitz bought 7,693 shares of MBX Biosciences stock in a transaction on Tuesday, April 8th. The shares were bought at an average cost of $5.89 per share, with a total value of $45,311.77. Following the acquisition, the director now directly owns 24,329 shares in the company, valued at approximately $143,297.81. This represents a 46.24 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 248,365 shares of company stock valued at $2,600,619.

MBX Biosciences Company 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.