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

MBX Biosciences, Inc. (NASDAQ:MBX) insider Salomon Azoulay sold 373 shares of MBX Biosciences stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $53.96, for a total transaction of $20,127.08. Following the transaction, the insider directly owned 14,026 shares of the company’s stock, valued at $756,842.96. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Price Performance

Shares of NASDAQ:MBX opened at $51.35 on Friday. MBX Biosciences, Inc. has a one year low of $21.90 and a one year high of $72.64. The firm has a fifty day moving average price of $56.36 and a two-hundred day moving average price of $45.97.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). Sell-side analysts forecast that MBX Biosciences, Inc. will post -3.10 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a research note on Friday, August 21st. They issued an “overweight” rating and a $88.00 price target for the company. Stifel Nicolaus increased their price target on MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Guggenheim raised their target price on MBX Biosciences from $88.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Barclays reissued an “overweight” rating and set a $88.00 price target on shares of MBX Biosciences in a research note on Friday, August 7th. Finally, UBS Group reissued a “buy” rating on shares of MBX Biosciences in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $87.00.

Institutional Trading of MBX Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in MBX. Russell Investments Group Ltd. boosted its position in MBX Biosciences by 147.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 44,925 shares of the company’s stock worth $2,634,000 after acquiring an additional 26,763 shares during the period. Alps Advisors Inc. raised its position in shares of MBX Biosciences by 32.9% in the third quarter. Alps Advisors Inc. now owns 63,800 shares of the company’s stock valued at $3,740,000 after purchasing an additional 15,788 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in MBX Biosciences during the 3rd quarter valued at $144,000. Profund Advisors LLC boosted its position in 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 purchasing an additional 16,209 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in MBX Biosciences by 28.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,787 shares of the company’s stock valued at $681,000 after acquiring an additional 2,612 shares during the period.

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.