MBX Biosciences (NASDAQ:MBX) Insider Salomon Azoulay Sells 370 Shares

MBX Biosciences, Inc. (NASDAQ:MBX) insider Salomon Azoulay sold 370 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $65.77, for a total value of $24,334.90. Following the transaction, the insider owned 14,399 shares in the company, valued at approximately $947,022.23. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Stock Performance

MBX Biosciences stock opened at $67.48 on Thursday. The stock has a market cap of $3.21 billion, a PE ratio of -30.53 and a beta of 0.10. The stock has a 50-day moving average of $50.77 and a two-hundred day moving average of $39.65. MBX Biosciences, Inc. has a one year low of $9.63 and a one year high of $72.64.

Wall Street Analyst Weigh In

MBX has been the subject of several research analyst reports. Citizens Jmp increased their price objective on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Truist Financial raised their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Barclays lifted their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, UBS Group reissued a “buy” rating and issued a $90.00 target price on shares of MBX Biosciences in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $71.12.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in MBX Biosciences in the 4th quarter worth approximately $28,000. Russell Investments Group Ltd. lifted its stake in 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 acquiring an additional 1,446 shares during the period. Royal Bank of Canada lifted its stake in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares during the period. Strs Ohio boosted its holdings in shares of MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after acquiring an additional 900 shares during the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of MBX Biosciences by 64.7% in the fourth 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 during the period.

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.