MBX Biosciences (NASDAQ:MBX) Shares Gap Up Following Insider Buying Activity

MBX Biosciences, Inc. (NASDAQ:MBX)’s share price gapped up prior to trading on Monday following insider buying activity. The stock had previously closed at $28.00, but opened at $30.19. MBX Biosciences shares last traded at $30.65, with a volume of 88,871 shares traded.

Specifically, CEO P. Kent Hawryluk purchased 18,500 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were acquired at an average cost of $28.41 per share, for a total transaction of $525,585.00. Following the transaction, the chief executive officer owned 486,777 shares of the company’s stock, valued at $13,829,334.57. This trade represents a 3.95% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

A number of research firms recently issued reports on MBX. Stifel Nicolaus boosted their price objective on MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 19th. UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday. Barclays initiated coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 price target for the company. Finally, The Goldman Sachs Group began coverage on shares of MBX Biosciences in a report on Thursday, December 4th. They issued a “sell” rating and a $18.00 price objective on the stock. Ten investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.56.

MBX Biosciences Trading Up 6.4%

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -12.37 and a beta of 1.07. The firm has a 50-day moving average of $35.58 and a 200 day moving average of $26.80.

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

Institutional Investors Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC grew its position in MBX Biosciences by 28.9% in the 4th quarter. CWM LLC now owns 1,784 shares of the company’s stock valued at $56,000 after buying an additional 400 shares in the last quarter. Royal Bank of Canada raised its position in shares of MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after buying an additional 572 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of MBX Biosciences by 64.7% in the 4th quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after acquiring an additional 689 shares during the period. Virtus Investment Advisers LLC lifted its stake in shares of MBX Biosciences by 9.6% in the 2nd quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company’s stock worth $100,000 after acquiring an additional 766 shares during the period. Finally, GF Fund Management CO. LTD. bought a new position in shares of MBX Biosciences in the fourth quarter valued at approximately $28,000.

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.