MBX Biosciences (NASDAQ:MBX) Stock: Insider Steven Hoerter Sells 4,893 Shares

MBX Biosciences, Inc. (NASDAQ:MBX) CEO Steven Hoerter sold 4,893 shares of MBX Biosciences stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $54.82, for a total value of $268,234.26. Following the transaction, the chief executive officer directly owned 78,045 shares in the company, valued at approximately $4,278,426.90. The trade was a 5.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Trading Up 2.5%

Shares of MBX Biosciences stock opened at $57.72 on Thursday. MBX Biosciences, Inc. has a 52 week low of $23.07 and a 52 week high of $72.64. The stock has a market cap of $2.87 billion, a PE ratio of -18.80 and a beta of 0.17. The company’s 50-day moving average price is $56.02 and its two-hundred day moving average price is $46.20.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Monday, November 9th. The company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.49). On average, equities analysts predict that MBX Biosciences, Inc. will post -3.10 EPS for the current fiscal year.

Analysts Set New Price Targets

MBX has been the subject of several recent research reports. Citigroup reissued a “market outperform” rating on shares of MBX Biosciences in a research note on Tuesday, October 27th. Guggenheim lifted their price target on shares of MBX Biosciences from $88.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Mizuho upped their price target on MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Stifel Nicolaus increased their price objective on MBX Biosciences from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Finally, Truist Financial raised their price objective on MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.30.

Institutional Trading of MBX Biosciences

A number of hedge funds have recently bought and sold shares of MBX. State of Wyoming acquired a new position in shares of MBX Biosciences in the second quarter worth about $58,000. Sterling Capital Management LLC grew its position in 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. acquired a new stake in MBX Biosciences during the 3rd quarter valued at $144,000. Quantbot Technologies LP acquired a new stake in MBX Biosciences during the 2nd quarter valued at $213,000. Finally, Sei Investments Co. lifted its holdings in shares of MBX Biosciences by 17.4% in the first quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock valued at $268,000 after purchasing an additional 1,332 shares in the last quarter.

About MBX Biosciences

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.