Insider Selling: MBX Biosciences (NASDAQ:MBX) Insider Sells $24,334.90 in Stock

MBX Biosciences, Inc. (NASDAQ:MBX) insider Salomon Azoulay sold 370 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $65.77, for a total value of $24,334.90. Following the completion of the transaction, the insider owned 14,399 shares in the company, valued at $947,022.23. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Stock Performance

Shares of MBX Biosciences stock traded down $3.22 during trading hours on Wednesday, hitting $67.48. The company’s stock had a trading volume of 487,476 shares, compared to its average volume of 699,843. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of -30.53 and a beta of 0.10. MBX Biosciences, Inc. has a twelve month low of $9.63 and a twelve month high of $72.64. The firm has a fifty day moving average of $50.06 and a 200-day moving average of $39.46.

Analyst Ratings Changes

MBX has been the topic of several recent analyst reports. Barclays upped their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Truist Financial lifted their target price on MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $56.00 price target on shares of MBX Biosciences in a research report on Tuesday, May 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.12.

Hedge Funds Weigh In On MBX Biosciences

Several hedge funds have recently added to or reduced their stakes in MBX. Wellington Management Group LLP raised its stake in MBX Biosciences by 112.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after acquiring an additional 2,556,708 shares in the last quarter. Aaron Wealth Advisors LLC grew its holdings in shares of MBX Biosciences by 1,568.8% during the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after purchasing an additional 1,098,176 shares during the last quarter. Braidwell LP acquired a new stake in shares of MBX Biosciences during the fourth quarter worth about $32,127,000. Deep Track Capital LP increased its position in shares of MBX Biosciences by 43.9% during the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock worth $55,125,000 after purchasing an additional 961,408 shares in the last quarter. Finally, Eventide Asset Management LLC purchased a new stake in shares of MBX Biosciences in the 4th quarter valued at about $28,071,000.

About MBX Biosciences

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.