MBX Biosciences (NASDAQ:MBX) CEO P. Kent Hawryluk Buys 18,500 Shares of Stock

MBX Biosciences, Inc. (NASDAQ:MBX) CEO P. Kent Hawryluk purchased 18,500 shares of the business’s stock in a transaction on Friday, March 13th. The shares were acquired at an average price of $28.41 per share, with a total value of $525,585.00. Following the purchase, the chief executive officer owned 486,777 shares of the company’s stock, valued at approximately $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

MBX Biosciences Trading Up 6.4%

MBX stock opened at $29.80 on Tuesday. MBX Biosciences, Inc. has a 1-year low of $4.81 and a 1-year high of $44.89. The business’s 50 day moving average is $35.58 and its 200-day moving average is $26.80. The firm has a market cap of $1.42 billion, a P/E ratio of -12.37 and a beta of 1.07.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MBX shares. Wall Street Zen raised shares of MBX Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. TD Cowen reaffirmed a “buy” rating on shares of MBX Biosciences in a research note on Thursday. The Goldman Sachs Group began coverage on shares of MBX Biosciences in a report on Thursday, December 4th. They set a “sell” rating and a $18.00 price objective for the company. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a report on Tuesday, February 24th. Finally, Truist Financial set a $50.00 price target on MBX Biosciences in a research report on Monday, March 9th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.56.

Hedge Funds Weigh In On MBX Biosciences

A number of large investors have recently modified their holdings of MBX. Wellington Management Group LLP increased its holdings in shares of MBX Biosciences by 112.8% in the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after purchasing an additional 2,556,708 shares in the last quarter. Deep Track Capital LP lifted its holdings in MBX Biosciences by 43.9% during the 3rd quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after buying an additional 961,408 shares in the last quarter. Vanguard Group Inc. boosted its position in MBX Biosciences by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock valued at $57,334,000 after buying an additional 140,449 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of MBX Biosciences by 164.2% in the 3rd quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock valued at $22,878,000 after buying an additional 812,436 shares during the period. Finally, MPM Bioimpact LLC raised its position in shares of MBX Biosciences by 14.3% during the second quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock worth $14,769,000 after acquiring an additional 161,466 shares during the last quarter.

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.