MBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) insider Salomon Azoulay sold 373 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $53.96, for a total transaction of $20,127.08. Following the completion of the sale, the insider owned 14,026 shares of the company’s stock, valued at approximately $756,842.96. The trade was a 2.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
MBX Biosciences Price Performance
Shares of MBX traded down $4.11 on Thursday, reaching $48.37. 427,858 shares of the stock traded hands, compared to its average volume of 639,718. MBX Biosciences, Inc. has a 12 month low of $21.90 and a 12 month high of $72.64. The stock’s 50-day moving average price is $57.03 and its 200-day moving average price is $45.89. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -20.07 and a beta of 0.17.
MBX Biosciences (NASDAQ:MBX – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). As a group, equities research analysts forecast that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
MBX has been the topic of several research analyst reports. UBS Group restated a “buy” rating on shares of MBX Biosciences in a report on Monday, September 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Thursday, October 15th. Guggenheim increased their price objective on shares of MBX Biosciences from $88.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Citigroup restated a “market outperform” rating on shares of MBX Biosciences in a research report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a research note on Friday, August 21st. They issued an “overweight” rating and a $88.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.00.
Read Our Latest Report on MBX Biosciences
Institutional Trading of MBX Biosciences
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in MBX Biosciences during the 2nd quarter valued at about $183,467,000. Wellington Management Group LLP grew its position in shares of MBX Biosciences by 55.9% during the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock worth $274,759,000 after buying an additional 1,785,699 shares during the period. Parkman Healthcare Partners LLC acquired a new stake in shares of MBX Biosciences during the 2nd quarter worth approximately $44,170,000. Stempoint Capital LP raised its stake in shares of MBX Biosciences by 535.8% during the first quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock worth $14,909,000 after buying an additional 420,916 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of MBX Biosciences during the second quarter worth approximately $16,501,000.
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.
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