MBX Biosciences (NASDAQ:MBX) Insider Sells $20,127.08 in Stock

MBX Biosciences, Inc. (NASDAQ:MBX) insider Salomon Azoulay sold 373 shares of the business’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $53.96, for a total value of $20,127.08. Following the transaction, the insider owned 14,026 shares in the company, valued at $756,842.96. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Stock Up 6.0%

MBX Biosciences stock opened at $51.35 on Friday. The business has a 50 day moving average price of $56.36 and a two-hundred day moving average price of $45.97. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -21.31 and a beta of 0.17. MBX Biosciences, Inc. has a 12 month low of $21.90 and a 12 month high of $72.64.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, analysts expect that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio grew 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 worth $48,000 after purchasing an additional 900 shares during the last quarter. State of Wyoming acquired a new stake in shares of MBX Biosciences during the 2nd quarter worth about $58,000. Sterling Capital Management LLC increased its position in shares of MBX Biosciences by 847.7% during the 3rd quarter. Sterling Capital Management LLC now owns 1,033 shares of the company’s stock worth $61,000 after purchasing an additional 924 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in MBX Biosciences during the 3rd quarter valued at about $144,000. Finally, Quantbot Technologies LP bought a new position in MBX Biosciences during the 2nd quarter valued at about $213,000.

Analyst Upgrades and Downgrades

MBX has been the subject of several research reports. UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a research report on Monday, September 28th. Guggenheim upped their target price on shares of MBX Biosciences from $88.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Citigroup restated a “market outperform” rating on shares of MBX Biosciences in a research note on Tuesday, October 27th. Mizuho raised their price target on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Stifel Nicolaus lifted their price objective on MBX Biosciences from $70.00 to $84.00 and gave the company a “buy” rating in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.00.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Plus peptide engineering platform to design medicines intended to provide targeted biological activity, longer duration and more convenient dosing than conventional peptide treatments.

MBX Biosciences’ lead program is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone and has difficulty maintaining normal calcium levels.