MBX Biosciences (NYSE:MBX) Director Buys $11,999,988.00 in Stock

MBX Biosciences, Inc. (NYSE:MBX) Director Patrick Heron purchased 666,666 shares of the company’s stock in a transaction dated Friday, September 26th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $11,999,988.00. Following the purchase, the director directly owned 5,219,440 shares in the company, valued at approximately $93,949,920. The trade was a 14.64% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

MBX Biosciences Price Performance

NYSE:MBX opened at $16.75 on Friday. The firm has a market capitalization of $562.70 million and a price-to-earnings ratio of -3.69. MBX Biosciences, Inc. has a one year low of $4.81 and a one year high of $27.50. The business has a fifty day moving average price of $13.80 and a 200-day moving average price of $11.52.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MBX shares. Oppenheimer assumed coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 price objective on the stock. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Finally, Mizuho upped their price target on shares of MBX Biosciences from $38.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $39.88.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors and hedge funds have recently modified their holdings of MBX. Virtus Investment Advisers LLC boosted its holdings in shares of MBX Biosciences by 9.6% during the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock valued at $100,000 after purchasing an additional 766 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of MBX Biosciences by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company’s stock worth $698,000 after purchasing an additional 1,235 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of MBX Biosciences in the fourth quarter worth about $27,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock valued at $106,000 after buying an additional 2,682 shares during the last quarter. Finally, Intech Investment Management LLC boosted its stake in MBX Biosciences by 33.0% during the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company’s stock valued at $163,000 after buying an additional 3,543 shares during the last quarter.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.