Platinum Investment Management Ltd. Buys 12,090 Shares of MBX Biosciences, Inc. (NYSE:MBX)

Platinum Investment Management Ltd. boosted its position in MBX Biosciences, Inc. (NYSE:MBX) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 162,090 shares of the company’s stock after acquiring an additional 12,090 shares during the quarter. Platinum Investment Management Ltd. owned 0.49% of MBX Biosciences worth $2,987,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers bought a new position in MBX Biosciences during the fourth quarter worth $175,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MBX Biosciences during the third quarter worth about $278,000. Point72 Asset Management L.P. bought a new stake in shares of MBX Biosciences during the third quarter worth about $405,000. Barclays PLC purchased a new position in MBX Biosciences during the third quarter worth about $426,000. Finally, Geode Capital Management LLC purchased a new position in MBX Biosciences during the third quarter worth about $579,000.

Insider Transactions at MBX Biosciences

In related news, Director Carl L. Gordon purchased 143,170 shares of MBX Biosciences stock in a transaction dated Tuesday, February 18th. The stock was purchased at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the completion of the purchase, the director now directly owns 3,255,000 shares of the company’s stock, valued at $35,284,200. The trade was a 4.60 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO P. Kent Hawryluk purchased 50,000 shares of the stock in a transaction on 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 acquisition, the chief executive officer now directly owns 448,277 shares of the company’s stock, valued at approximately $4,792,081.13. This represents a 12.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 240,672 shares of company stock valued at $2,555,308 in the last quarter.

MBX Biosciences Stock Performance

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

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.