MBX Biosciences (NASDAQ:MBX) Insider Salomon Azoulay Sells 373 Shares of Company Stock

MBX Biosciences, Inc. (NASDAQ:MBX) insider Salomon Azoulay sold 373 shares of MBX Biosciences stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $53.96, for a total value of $20,127.08. Following the completion of the sale, the insider directly owned 14,026 shares of the company’s stock, valued at $756,842.96. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Stock Down 7.7%

MBX stock opened at $48.46 on Friday. MBX Biosciences, Inc. has a twelve month low of $21.90 and a twelve month high of $72.64. The company has a market cap of $2.33 billion, a P/E ratio of -20.11 and a beta of 0.17. The business has a fifty day moving average of $56.66 and a 200-day moving average of $45.93.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). As a group, equities research analysts anticipate that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. started coverage on shares of MBX Biosciences in a research report on Friday, August 21st. They set an “overweight” rating and a $88.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Thursday, October 15th. Stifel Nicolaus boosted their price target on shares of MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, October 12th. Barclays restated an “overweight” rating and issued a $88.00 price objective on shares of MBX Biosciences in a report on Friday, August 7th. Finally, UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a research note on Monday, September 28th. One equities research 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 company’s stock. According to MarketBeat.com, MBX Biosciences currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MBX. Alps Advisors Inc. lifted its holdings in MBX Biosciences by 32.9% during the third quarter. Alps Advisors Inc. now owns 63,800 shares of the company’s stock worth $3,740,000 after acquiring an additional 15,788 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in MBX Biosciences in the third quarter valued at about $144,000. Profund Advisors LLC increased its holdings in shares of MBX Biosciences by 183.9% in the third quarter. Profund Advisors LLC now owns 25,021 shares of the company’s stock worth $1,467,000 after acquiring an additional 16,209 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of MBX Biosciences by 28.5% in the third quarter. China Universal Asset Management Co. Ltd. now owns 11,787 shares of the company’s stock worth $681,000 after acquiring an additional 2,612 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in shares of MBX Biosciences in the third quarter worth about $3,111,000.

MBX Biosciences Company Profile

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.