Steven Hoerter Purchases 20,000 Shares of MBX Biosciences (NASDAQ:MBX) Stock

MBX Biosciences, Inc. (NASDAQ:MBX) Director Steven Hoerter purchased 20,000 shares of MBX Biosciences stock in a transaction dated Friday, October 17th. The stock was bought at an average price of $13.25 per share, with a total value of $265,000.00. Following the completion of the purchase, the director directly owned 20,000 shares of the company’s stock, valued at approximately $265,000. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

MBX Biosciences Price Performance

Shares of MBX stock opened at $15.31 on Wednesday. The business has a 50 day moving average of $14.36. MBX Biosciences, Inc. has a 52 week low of $4.81 and a 52 week high of $27.50. The company has a market capitalization of $514.26 million and a price-to-earnings ratio of -3.37.

Institutional Trading of MBX Biosciences

Several large investors have recently added to or reduced their stakes in MBX. New York State Common Retirement Fund bought a new stake in MBX Biosciences during the first quarter valued at approximately $32,000. Deutsche Bank AG lifted its holdings in MBX Biosciences by 102.0% during the first quarter. Deutsche Bank AG now owns 8,762 shares of the company’s stock valued at $65,000 after purchasing an additional 4,424 shares in the last quarter. Wealthedge Investment Advisors LLC purchased a new position in MBX Biosciences during the first quarter valued at approximately $88,000. Virtus Investment Advisers LLC lifted its holdings in MBX Biosciences by 9.6% during the second 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 in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 purchasing an additional 2,682 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently commented on MBX. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Oppenheimer initiated coverage on shares of MBX Biosciences in a research note on Wednesday, July 16th. They issued an “outperform” rating and a $38.00 price target for the company. Truist Financial initiated coverage on shares of MBX Biosciences in a research report on Wednesday, October 15th. They set a “buy” rating and a $50.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a research report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.00.

MBX Biosciences Company Profile

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.