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

Key Points

• Insider Salomon Azoulay sold 373 MBX shares for $20,127 to cover tax withholding on vested equity awards, reducing his holdings by 2.59% to 14,026 shares.
• MBX shares fell 7.8% to $48.37 in Thursday trading. The company’s latest reported quarterly loss of $0.78 per share also missed the consensus estimate of a $0.68 loss.
• Analyst sentiment is mixed but leans positive: MarketBeat reports a “Moderate Buy” average rating and an $87 average price target, alongside both buy and sell ratings.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) insider Salomon Azoulay sold 373 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $53.96, for a total value of $20,127.08. Following the completion of the sale, the insider directly owned 14,026 shares in the company, valued at $756,842.96. This represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Stock Down 7.8%

MBX stock traded down $4.11 during mid-day trading on Thursday, reaching $48.37. The company had a trading volume of 427,858 shares, compared to its average volume of 639,718. The stock has a market capitalization of $2.33 billion, a P/E ratio of -20.07 and a beta of 0.17. MBX Biosciences, Inc. has a one year low of $21.90 and a one year high of $72.64. The stock's 50-day simple moving average is $57.03 and its two-hundred day simple moving average is $45.89.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, research analysts forecast that MBX Biosciences, Inc. will post -3.10 EPS for the current fiscal year.

Hedge Funds Weigh In On MBX Biosciences

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC lifted its stake in MBX Biosciences by 847.7% during the third quarter. Sterling Capital Management LLC now owns 1,033 shares of the company's stock valued at $61,000 after purchasing an additional 924 shares during the last quarter. State of Wyoming acquired a new stake in shares of MBX Biosciences during the second quarter worth approximately $58,000. Strs Ohio grew its stake in MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company's stock valued at $48,000 after purchasing an additional 900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in MBX Biosciences in the third quarter worth approximately $144,000. Finally, Quantbot Technologies LP acquired a new position in shares of MBX Biosciences during the 2nd quarter valued at about $213,000.

Wall Street Analyst Weigh In

Several research analysts have commented on MBX shares. UBS Group restated a "buy" rating on shares of MBX Biosciences in a research report on Monday, September 28th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MBX Biosciences in a report on Thursday, October 15th. JPMorgan Chase & Co. began coverage on MBX Biosciences in a report on Friday, August 21st. They set an "overweight" rating and a $88.00 price target on the stock. Wall Street Zen downgraded MBX Biosciences from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Mizuho increased their price objective on MBX Biosciences from $57.00 to $91.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, MBX Biosciences presently has an average rating of "Moderate Buy" and an average target price of $87.00.

About MBX Biosciences

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.

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