Frazier Life Sciences Management L.P. Acquires Shares of 5,985,347 MBX Biosciences, Inc. (NYSE:MBX)

Frazier Life Sciences Management L.P. bought a new stake in shares of MBX Biosciences, Inc. (NYSE:MBX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 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 largest position. Frazier Life Sciences Management L.P. owned about 17.91% of MBX Biosciences as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. NEA Management Company LLC acquired a new position in MBX Biosciences in the third quarter worth approximately $93,904,000. Wellington Management Group LLP bought a new stake in MBX Biosciences in the third quarter worth approximately $74,261,000. RA Capital Management L.P. acquired a new position in shares of MBX Biosciences during the 3rd quarter worth $39,264,000. Maven Securities LTD bought a new position in shares of MBX Biosciences during the 3rd quarter valued at $1,299,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of MBX Biosciences in the 3rd quarter valued at $1,200,000.

MBX Biosciences Price Performance

MBX opened at $22.83 on Tuesday. MBX Biosciences, Inc. has a 1-year low of $15.31 and a 1-year high of $27.50. The company has a 50 day simple moving average of $21.63.

MBX Biosciences (NYSE:MBX) last posted its quarterly earnings data 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). As a group, sell-side analysts predict that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MBX shares. 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 on the stock. JPMorgan Chase & Co. initiated 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. Guggenheim initiated coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Stifel Nicolaus began coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 target price on the stock.

Insider Activity at MBX Biosciences

In other MBX Biosciences news, Director Edward T. Mathers purchased 500,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $8,000,000.00. Following the completion of the purchase, the director now directly owns 3,614,486 shares in the company, valued at approximately $57,831,776. This trade represents a 16.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were bought 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 directly owns 4,552,774 shares of the company’s stock, valued at approximately $72,844,384. This represents a 15.91 % 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.