MBX Biosciences (NASDAQ:MBX) Shares Gap Up After Insider Buying Activity

MBX Biosciences, Inc. (NASDAQ:MBX)’s stock price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $28.00, but opened at $30.19. MBX Biosciences shares last traded at $30.65, with a volume of 88,871 shares changing hands.

Specifically, CEO P. Kent Hawryluk acquired 18,500 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the transaction, the chief executive officer owned 486,777 shares of the company’s stock, valued at $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

MBX has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of MBX Biosciences from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, January 22nd. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research report on Thursday. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, Guggenheim boosted their target price on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

MBX Biosciences Trading Up 5.0%

The business’s fifty day moving average price is $35.57 and its 200-day moving average price is $26.69. The company has a market capitalization of $1.40 billion, a P/E ratio of -12.20 and a beta of 1.07.

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

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of MBX. Russell Investments Group Ltd. raised its holdings 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 valued at $26,000 after buying an additional 1,446 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in MBX Biosciences in the third quarter worth approximately $27,000. GF Fund Management CO. LTD. bought a new position in MBX Biosciences during the fourth quarter valued at approximately $28,000. Royal Bank of Canada raised its stake in shares of MBX Biosciences by 59.6% during the fourth 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. Finally, BNP Paribas Financial Markets raised its stake in shares of MBX Biosciences by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after acquiring an additional 1,567 shares in the last quarter.

About MBX Biosciences

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.