Key Points
- Insider sale: Salomon Azoulay sold 370 MBX Biosciences shares for approximately $24,335 to cover tax withholding tied to vested equity awards, reducing his position by 2.51% to 14,399 shares.
- Stock performance: MBX shares opened at $67.48 after falling 4.6%; the stock has traded between $9.63 and $72.64 over the past year and has a market capitalization of about $3.21 billion.
- Analyst outlook: Analysts maintain a consensus “Moderate Buy” rating with an average price target of $71.12, while institutional investors including Stempoint Capital significantly increased their holdings.
MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) insider Salomon Azoulay sold 370 shares of MBX Biosciences stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $65.77, for a total value of $24,334.90. Following the transaction, the insider owned 14,399 shares of the company's stock, valued at $947,022.23. The trade was a 2.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
MBX Biosciences Trading Down 4.6%
Shares of MBX stock opened at $67.48 on Thursday. MBX Biosciences, Inc. has a twelve month low of $9.63 and a twelve month high of $72.64. The stock has a market cap of $3.21 billion, a P/E ratio of -30.53 and a beta of 0.10. The stock has a 50 day moving average of $50.77 and a 200 day moving average of $39.65.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of MBX. Aaron Wealth Advisors LLC raised its holdings in MBX Biosciences by 40.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company's stock valued at $2,208,000 after acquiring an additional 20,000 shares in the last quarter. Candriam S.C.A. acquired a new position in MBX Biosciences during the 1st quarter worth approximately $8,787,000. Eventide Asset Management LLC purchased a new stake in shares of MBX Biosciences in the 4th quarter valued at approximately $28,071,000. Stempoint Capital LP increased its position in shares of MBX Biosciences by 535.8% in the 1st quarter. Stempoint Capital LP now owns 499,469 shares of the company's stock valued at $14,909,000 after purchasing an additional 420,916 shares during the last quarter. Finally, Swiss National Bank acquired a new stake in shares of MBX Biosciences in the 1st quarter valued at $1,325,000.
Analyst Ratings Changes
MBX has been the topic of several analyst reports. Stifel Nicolaus set a $56.00 price target on MBX Biosciences in a report on Tuesday, May 12th. Barclays increased their price objective on shares of MBX Biosciences from $66.00 to $70.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Weiss Ratings restated a "sell (d-)" rating on shares of MBX Biosciences in a research note on Friday, July 17th. Wall Street Zen raised MBX Biosciences from a "sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, Citizens Jmp increased their target price on MBX Biosciences from $76.00 to $86.00 and gave the stock a "market outperform" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $71.12.
Read Our Latest Stock Analysis on MBX
MBX Biosciences Company Profile
(
Get Free Report)
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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