MBX Biosciences (NASDAQ:MBX) Director Acquires $265,000.00 in Stock

Key Points

• MBX Biosciences Director Steven Hoerter purchased 20,000 shares of the company at an average price of $13.25, totaling $265,000.
• The stock has recently seen an uptick, trading at $14.23, with a market capitalization of $477.99 million.
• Analysts have varying ratings for MBX Biosciences, with upgrades to "outperform" from multiple brokerages and an average target price of $44.00.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) Director Steven Hoerter purchased 20,000 shares of the firm's stock in a transaction on Friday, October 17th. The shares were purchased at an average cost of $13.25 per share, with a total value of $265,000.00. Following the completion of the purchase, the director owned 20,000 shares in the company, valued at $265,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MBX Biosciences Stock Performance

NASDAQ MBX traded up $1.01 on Monday, reaching $14.23. 829,102 shares of the stock traded hands, compared to its average volume of 587,407. The firm has a market cap of $477.99 million and a P/E ratio of -3.13. MBX Biosciences, Inc. has a 12 month low of $4.81 and a 12 month high of $27.50.

Analysts Set New Price Targets

A number of brokerages have recently commented on MBX. Mizuho increased their price objective on MBX Biosciences from $38.00 to $56.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded MBX Biosciences from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a research report on Wednesday, October 8th. Citigroup restated an "outperform" rating on shares of MBX Biosciences in a report on Monday, September 22nd. Finally, Oppenheimer assumed coverage on MBX Biosciences in a report on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 target price for the company. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.00.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors have recently bought and sold shares of MBX. MPM Bioimpact LLC bought a new position in MBX Biosciences during the first quarter valued at about $8,361,000. Woodline Partners LP raised its holdings in MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock valued at $6,476,000 after buying an additional 268,740 shares in the last quarter. Sio Capital Management LLC bought a new position in MBX Biosciences during the second quarter valued at about $2,750,000. Affinity Asset Advisors LLC bought a new position in MBX Biosciences during the first quarter valued at about $1,292,000. Finally, Parkman Healthcare Partners LLC raised its holdings in MBX Biosciences by 93.1% during the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock valued at $2,423,000 after buying an additional 158,323 shares in the last quarter.

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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