MBX Biosciences (NASDAQ:MBX) CEO P. Kent Hawryluk Purchases 18,500 Shares

MBX Biosciences, Inc. (NASDAQ:MBX) CEO P. Kent Hawryluk purchased 18,500 shares of the company’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $28.41 per share, for a total transaction of $525,585.00. Following the completion of the purchase, the chief executive officer directly 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 SEC, which can be accessed through the SEC website.

MBX Biosciences Trading Up 0.2%

MBX stock opened at $28.00 on Monday. The stock has a market cap of $1.33 billion, a P/E ratio of -11.62 and a beta of 1.07. MBX Biosciences, Inc. has a twelve month low of $4.81 and a twelve month high of $44.89. The company’s 50 day moving average is $35.57 and its two-hundred day moving average is $26.69.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sio Capital Management LLC purchased a new stake in shares of MBX Biosciences in the second quarter valued at about $2,750,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of MBX Biosciences during the third quarter worth about $498,000. Resolute Capital Asset Partners LLC acquired a new position in MBX Biosciences in the 2nd quarter valued at about $567,000. Walleye Capital LLC raised its stake in MBX Biosciences by 116.5% during the 2nd quarter. Walleye Capital LLC now owns 70,333 shares of the company’s stock valued at $802,000 after acquiring an additional 37,843 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in 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 acquiring an additional 125,537 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms have issued reports on MBX. Barclays assumed coverage on shares of MBX Biosciences in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price objective for the company. Guggenheim boosted their target price on MBX Biosciences from $77.00 to $88.00 and gave the company a “buy” rating in a report on Friday, January 16th. TD Cowen reissued a “buy” rating on shares of MBX Biosciences in a research report on Thursday. Wall Street Zen upgraded MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Sunday, December 21st. Finally, Stifel Nicolaus boosted their price objective on MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Ten research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

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.