MBX Biosciences (NASDAQ:MBX) CEO Buys $525,585.00 in Stock

MBX Biosciences, Inc. (NASDAQ:MBX) CEO P. Kent Hawryluk acquired 18,500 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was acquired at an average price of $28.41 per share, with a total value of $525,585.00. Following the acquisition, the chief executive officer directly owned 486,777 shares of the company’s stock, valued at approximately $13,829,334.57. This represents a 3.95% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

MBX Biosciences Stock Up 0.2%

Shares of MBX opened at $28.00 on Monday. The company has a market cap of $1.33 billion, a P/E ratio of -11.62 and a beta of 1.07. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $44.89. The firm’s 50 day moving average price is $35.57 and its 200 day moving average price is $26.69.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.15.

Hedge Funds Weigh In On MBX Biosciences

Large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in MBX Biosciences in the fourth quarter valued at $28,000. Russell Investments Group Ltd. boosted its position in shares of MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,446 shares in the last quarter. Royal Bank of Canada boosted its position in shares of MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after acquiring an additional 572 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of MBX Biosciences in the 3rd quarter valued at about $27,000. Finally, California State Teachers Retirement System raised its position in shares of MBX Biosciences by 64.7% during the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after acquiring an additional 689 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on MBX shares. TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a research note on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th. Guggenheim boosted their price objective on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, Truist Financial set a $50.00 target price on shares of MBX Biosciences in a report on Monday, March 9th. Ten investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.56.

MBX Biosciences Company Profile

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.