MBX Biosciences (NASDAQ:MBX) CEO Acquires $272,800.00 in Stock

Key Points

• P. Kent Hawryluk, CEO of MBX Biosciences, purchased 20,000 shares of the company's stock for a total of $272,800, increasing his ownership by 4.46% to 468,277 shares.
• MBX Biosciences' stock traded at $15.31, with a market capitalization of $514.32 million and a price-to-earnings ratio of -3.37, indicating financial losses.
• Analysts have set a consensus price target of $44.00 for MBX Biosciences, with seven analysts rating it as a Buy and one as a Sell.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) CEO P. Kent Hawryluk bought 20,000 shares of the business's stock in a transaction on Monday, October 20th. The stock was bought at an average price of $13.64 per share, with a total value of $272,800.00. Following the purchase, the chief executive officer owned 468,277 shares in the company, valued at $6,387,298.28. This trade represents a 4.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

MBX Biosciences Price Performance

NASDAQ MBX traded up $1.08 during trading hours on Tuesday, hitting $15.31. The company had a trading volume of 1,142,819 shares, compared to its average volume of 590,283. MBX Biosciences, Inc. has a 52 week low of $4.81 and a 52 week high of $27.50. The company's 50 day moving average is $14.34. The company has a market capitalization of $514.32 million and a price-to-earnings ratio of -3.37.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Virtus Investment Advisers LLC increased its stake in MBX Biosciences by 9.6% in the second quarter. Virtus Investment Advisers LLC now owns 8,772 shares of the company's stock valued at $100,000 after acquiring an additional 766 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of MBX Biosciences by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company's stock valued at $698,000 after buying an additional 1,235 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of MBX Biosciences by 40.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company's stock valued at $106,000 after buying an additional 2,682 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of MBX Biosciences by 33.0% during the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company's stock valued at $163,000 after buying an additional 3,543 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of MBX Biosciences during the first quarter valued at about $32,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MBX shares. Citigroup reaffirmed an "outperform" rating on shares of MBX Biosciences in a report on Monday, September 22nd. Mizuho upped their price target on shares of MBX Biosciences from $38.00 to $56.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Oppenheimer started coverage on shares of MBX Biosciences in a report on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price target on the stock. Truist Financial started coverage on shares of MBX Biosciences in a report on Wednesday, October 15th. They issued a "buy" rating and a $50.00 price target on the stock. Finally, Wall Street Zen raised shares of MBX Biosciences from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, MBX Biosciences has a consensus rating of "Moderate Buy" and a consensus target price of $44.00.

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.

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