Platinum Investment Management Ltd. Raises Stake in MBX Biosciences, Inc. (NYSE:MBX)

Platinum Investment Management Ltd. increased its holdings in MBX Biosciences, Inc. (NYSE:MBX) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,090 shares of the company’s stock after acquiring an additional 12,090 shares during the quarter. Platinum Investment Management Ltd.’s holdings in MBX Biosciences were worth $2,987,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MBX. Rhumbline Advisers purchased a new stake in shares of MBX Biosciences during the fourth quarter valued at about $175,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in MBX Biosciences in the 3rd quarter valued at $278,000. Point72 Asset Management L.P. acquired a new stake in MBX Biosciences during the 3rd quarter worth $405,000. Barclays PLC purchased a new position in shares of MBX Biosciences during the 3rd quarter worth $426,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of MBX Biosciences during the 4th quarter worth $441,000.

MBX Biosciences Stock Performance

Shares of MBX opened at $8.42 on Wednesday. MBX Biosciences, Inc. has a 12-month low of $8.32 and a 12-month high of $27.50. The firm has a 50-day moving average of $10.62.

Insiders Place Their Bets

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

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.