MBX Biosciences, Inc.
MBX • XNAS
MBX Biosciences, Inc. is a pharmaceutical preparations company on XNAS, led by P. Kent Hawryluk, with a market cap of $1.3B. As of Q3 2025, 107% of shares are held by 116 institutional investors, with Frazier Life Sciences Management, L.P. as the largest holder at 14.88%.
Chief Executive OfficerP. Kent Hawryluk
Overview
Overview of institutional ownership in MBX as of Q3 2025 with a market cap of $782.5M
All Institutions
- Institutions
- 116
- Value Held
- $836.3M
- Shares Held
- 47.8M
- Avg Position
- $7.2M
- Median Position
- $507.9K
Hedge Funds
- Hedge Funds
- 36
- Value Held
- $367.8M
- Shares Held
- 21.0M
- Avg Position
- $10.2M
- Median Position
- $3.0M
Ownership Breakdown
Based on market cap of $782.5M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in MBX as of Q3 2025
| Institution | Position Value |
|---|---|
 Frazier Life Sciences Management, L.P. Venture Capital | $116.4M 3.49% of portfolio |
 WELLINGTON MANAGEMENT CO LLP Long Only Manager | $84.4M 0.01% of portfolio |
 ORBIMED ADVISORS LLC Hedge Fund•Sector | $70.1M 1.70% of portfolio |
 NEA Management Company, LLC Venture Capital | $63.3M 3.47% of portfolio |
 Deep Track Capital, LP Hedge Fund•Long/Short | $55.1M 1.57% of portfolio |
N NVP Associates, LLC Institution | $37.4M 22.51% of portfolio |
 EcoR1 Capital, LLC Hedge Fund•Sector | $37.2M 1.78% of portfolio |
K Kynam Capital Management, LP Hedge Fund•Long/Short | $35.0M 2.61% of portfolio |
B BlackRock, Inc. Institution | $34.3M 0.00% of portfolio |
 VANGUARD GROUP INC Institution | $29.4M 0.00% of portfolio |
Net Capital Flow
Institutional buying and selling activity for MBX in Q3 2025
- Traded
- +$204.7M
- Buyers
- 69
- Sellers
- 37
- Total Bought
- +$256.8M
- Total Sold
- −$52.1M
- Avg Position
- $6.7M
Biggest Buyers
| Institution | Net Bought |
|---|---|
WELLINGTON MANAGEMENT CO LLP Long Only Manager | +$44.7M +2.6M shares |
K Kynam Capital Management, LP Hedge Fund•Long/Short | +$35.0M +2.0M shares |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | +$17.4M +996.1K shares |
EcoR1 Capital, LLC Hedge Fund•Sector | +$17.0M +973.8K shares |
Deep Track Capital, LP Hedge Fund•Long/Short | +$16.8M +961.4K shares |
B BlackRock, Inc. Institution | +$16.6M +945.9K shares |
 FRANKLIN RESOURCES INC Institution | +$14.2M +812.4K shares |
Frazier Life Sciences Management, L.P. Venture Capital | +$11.7M +666.7K shares |
VANGUARD GROUP INC Institution | +$11.1M +633.7K shares |
C Cormorant Asset Management, LLC Hedge Fund•Long/Short | +$9.2M +525.0K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
 MPM Oncology Impact Management LP Institution | −$14.8M −1.3M shares |
 PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager | −$6.9M −392.2K shares |
 Schonfeld Strategic Advisors LLC Hedge Fund•Multi-Strategy | −$6.1M −348.7K shares |
 Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy | −$6.1M −346.1K shares |
 RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short | −$4.3M −377.8K shares |
 Sio Capital Management, LLC Hedge Fund•Long/Short | −$2.7M −241.0K shares |
 MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | −$1.9M −111.4K shares |
 Parkman Healthcare Partners LLC Hedge Fund•Long/Short | −$1.7M −98.6K shares |
 StemPoint Capital LP Hedge Fund•Long/Short | −$1.2M −66.0K shares |
 Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy | −$965.2K −55.2K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited MBX in Q3 2025
- New Positions
- 33
- New Value
- $76.0M
- Exited Positions
- 9
- Exited Value
- $23.1M
New Positions
| Institution | Position Value |
|---|---|
K Kynam Capital Management, LP Hedge Fund•Long/Short | $35.0M 2.0M shares |
 Rock Springs Capital Management LP Hedge Fund•Sector | $4.9M 282.6K shares |
B BAKER BROS. ADVISORS LP Hedge Fund•Sector | $4.9M 277.8K shares |
 Soleus Capital Management, L.P. Hedge Fund•Long/Short | $4.8M 275.0K shares |
L Longaeva Partners L.P. Institution | $3.9M 224.4K shares |
 Partner Fund Management, L.P. Hedge Fund•Sector | $3.9M 221.5K shares |
 Polygon Management Ltd. Hedge Fund•Multi-Strategy | $3.1M 177.8K shares |
 ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy | $1.8M 100.0K shares |
 Burkehill Global Management, LP Hedge Fund•Event Driven | $1.8M 100.0K shares |
 SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth | $1.5M 83.8K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
MPM Oncology Impact Management LP Institution | $14.8M 1.3M shares |
RA CAPITAL MANAGEMENT, LLC Hedge Fund•Long/Short | $4.3M 377.8K shares |
Sio Capital Management, LLC Hedge Fund•Long/Short | $2.7M 241.0K shares |
R Resolute Capital Asset Partners LLC Hedge Fund•Long/Short | $566.7K 49.7K shares |
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $315.3K 27.6K shares |
 SPRINGBOK CAPITAL MANAGEMENT, LLC Fund of Funds | $178.2K 15.6K shares |
 INTECH INVESTMENT MANAGEMENT LLC Long Only Manager | $162.8K 14.3K shares |
 RAYMOND JAMES FINANCIAL INC RIA/Wealth | $8.7K 761.0 shares |
S SIMPLEX TRADING, LLC Institution | $4.7K 411.0 shares |
Options Activity
Institutions with the largest Call and Put options positions in MBX as of Q3 2025
- Call Positions
- 8
- Call Value
- $12.6M
- Put Positions
- 8
- Put Value
- $24.1M
Call Positions
| Institution | Position Value |
|---|---|
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $3.6M 2.0K contracts |
 Ikarian Capital, LLC Hedge Fund•Event Driven | $3.5M 2.0K contracts |
 DIADEMA PARTNERS LP Hedge Fund•Long/Short | $1.8M 1.0K contracts |
 Caption Management, LLC Hedge Fund•Long/Short | $1.3M 750.0 contracts |
 BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds | $1.3M 728.0 contracts |
L LMR Partners LLP Institution | $437.5K 250.0 contracts |
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy | $437.5K 250.0 contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $325.5K 186.0 contracts |
Put Positions
| Institution | Position Value |
|---|---|
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $8.5M 4.9K contracts |
6 683 Capital Management, LLC Hedge Fund•Long/Short | $5.0M 2.8K contracts |
Ikarian Capital, LLC Hedge Fund•Event Driven | $3.5M 2.0K contracts |
L LMR Partners LLP Institution | $3.0M 1.7K contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $2.0M 1.1K contracts |
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds | $1.3M 728.0 contracts |
J JANE STREET GROUP, LLC Institution | $633.5K 362.0 contracts |
 Verition Fund Management LLC Hedge Fund•Multi-Strategy | $185.5K 106.0 contracts |
Most Committed Institutions
Institutions with MBX as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
N NVP Associates, LLC Institution | 22.51% $37.4M |
Frazier Life Sciences Management, L.P. Venture Capital | 3.49% $116.4M |
NEA Management Company, LLC Venture Capital | 3.47% $63.3M |
K Kynam Capital Management, LP Hedge Fund•Long/Short | 2.61% $35.0M |
 SECTORAL ASSET MANAGEMENT INC Venture Capital | 2.14% $3.4M |
EcoR1 Capital, LLC Hedge Fund•Sector | 1.78% $37.2M |
ORBIMED ADVISORS LLC Hedge Fund•Sector | 1.70% $70.1M |
C Cormorant Asset Management, LLC Hedge Fund•Long/Short | 1.67% $21.4M |
Deep Track Capital, LP Hedge Fund•Long/Short | 1.57% $55.1M |
Parkman Healthcare Partners LLC Hedge Fund•Long/Short | 1.49% $13.5M |
Hedge Fund Spotlight
Discover hedge funds investing in MBX
C
Cormorant Asset Management, LLC
Hedge Fund • Long/Short
Portfolio ManagerBihua Chen
- Portfolio Value
- $1.3B
- Positions
- 35
- Last Reported
- Q3 2025
Sector Allocation
Position in MBX Biosciences, Inc.
- Market Value
- $21.4M
- Shares Held
- 1.2M
- Portfolio Weight
- 1.67%
- Owned Since
- 2024-Q3
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
Unknown Unknown | $207.0M | 16.13% | |
Biotechnology Healthcare | $118.5M | 9.23% | |
Unknown Unknown | $94.8M | 7.39% |
