MBX Biosciences (NASDAQ:MBX) Insider Sells $24,334.90 in Stock

MBX Biosciences, Inc. (NASDAQ:MBX) insider Salomon Azoulay sold 370 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $65.77, for a total transaction of $24,334.90. Following the completion of the transaction, the insider directly owned 14,399 shares of the company’s stock, valued at approximately $947,022.23. The trade was a 2.51% decrease in their ownership of the stock. The transaction 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

Shares of NASDAQ MBX opened at $67.82 on Friday. MBX Biosciences, Inc. has a 1 year low of $9.63 and a 1 year high of $72.64. The stock’s 50-day simple moving average is $52.20 and its 200-day simple moving average is $40.03. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -28.14 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). As a group, research analysts predict that MBX Biosciences, Inc. will post -2.84 EPS for the current year.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in MBX Biosciences by 4,131.4% in the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after purchasing an additional 1,446 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of MBX Biosciences during the fourth quarter worth $28,000. Strs Ohio raised its holdings in shares of MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares during the period. Royal Bank of Canada lifted its position in shares of MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after buying an additional 572 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of MBX Biosciences by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock valued at $51,000 after buying an additional 1,567 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MBX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. Barclays reiterated an “overweight” rating and set a $88.00 price objective on shares of MBX Biosciences in a research note on Friday. Mizuho raised their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. UBS Group restated a “buy” rating and issued a $90.00 target price on shares of MBX Biosciences in a research note on Thursday, July 23rd. Finally, Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. One research 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.38.

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.