P. Kent Hawryluk Acquires 20,000 Shares of MBX Biosciences (NASDAQ:MBX) Stock

MBX Biosciences, Inc. (NASDAQ:MBX) CEO P. Kent Hawryluk bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The shares were acquired at an average price of $13.64 per share, for a total transaction of $272,800.00. Following the transaction, the chief executive officer owned 468,277 shares in the company, valued at $6,387,298.28. This represents a 4.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

MBX Biosciences Stock Down 3.5%

MBX Biosciences stock opened at $14.78 on Thursday. The firm has a market cap of $496.46 million and a P/E ratio of -3.26. The company’s fifty day moving average is $14.37. MBX Biosciences, Inc. has a 12-month low of $4.81 and a 12-month high of $27.50.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MBX. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Wednesday, October 8th. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Oppenheimer started coverage on shares of MBX Biosciences in a report on Wednesday, July 16th. They set an “outperform” rating and a $38.00 price objective for the company. Truist Financial assumed coverage on MBX Biosciences in a research note on Wednesday, October 15th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Mizuho upped their price target on shares of MBX Biosciences from $38.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Seven research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MBX Biosciences has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. MPM Bioimpact LLC raised its position in MBX Biosciences by 14.3% in the 2nd quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock worth $14,769,000 after purchasing an additional 161,466 shares during the period. Woodline Partners LP raised its holdings in shares of MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company’s stock valued at $6,476,000 after acquiring an additional 268,740 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of MBX Biosciences by 34.0% during the 2nd quarter. Franklin Resources Inc. now owns 494,852 shares of the company’s stock valued at $5,646,000 after purchasing an additional 125,537 shares in the last quarter. Geode Capital Management LLC boosted its position in MBX Biosciences by 27.0% during the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock valued at $3,976,000 after acquiring an additional 73,989 shares in the last quarter. Finally, Parkman Healthcare Partners LLC grew its stake in MBX Biosciences by 93.1% in the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company’s stock worth $2,423,000 after purchasing an additional 158,323 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.