Insider Buying: MBX Biosciences, Inc. (NYSE:MBX) CEO Buys 50,000 Shares of Stock

MBX Biosciences, Inc. (NYSE:MBX) CEO P. Kent Hawryluk purchased 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The stock was bought at an average cost of $10.69 per share, for a total transaction of $534,500.00. Following the completion of the purchase, the chief executive officer now directly owns 448,277 shares in the company, valued at $4,792,081.13. This represents a 12.55 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

MBX Biosciences Trading Up 2.9 %

Shares of MBX traded up $0.32 during trading hours on Wednesday, hitting $11.25. The stock had a trading volume of 136,342 shares, compared to its average volume of 282,447. MBX Biosciences, Inc. has a 12-month low of $9.42 and a 12-month high of $27.50. The stock has a fifty day simple moving average of $16.47.

MBX Biosciences (NYSE:MBX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($2.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.72) by ($0.06). Sell-side analysts predict that MBX Biosciences, Inc. will post -13.21 earnings per share for the current year.

Analysts Set New Price Targets

MBX has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $35.00 price target for the company. Guggenheim initiated coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $44.00 price objective for the company. Stifel Nicolaus began coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Frazier Life Sciences Management L.P. bought a new stake in shares of MBX Biosciences in the 3rd quarter worth approximately $155,499,000. NEA Management Company LLC acquired a new position in shares of MBX Biosciences in the third quarter worth $93,904,000. Wellington Management Group LLP purchased a new position in MBX Biosciences in the third quarter valued at about $74,261,000. RA Capital Management L.P. acquired a new position in MBX Biosciences in the third quarter worth approximately $39,264,000. Finally, Franklin Resources Inc. acquired a new position in shares of MBX Biosciences during the 3rd quarter worth $11,691,000.

MBX Biosciences Company Profile

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.