Key Points
- MBX insider Salomon Azoulay sold 373 shares for about $20,127, a 2.59% reduction in his holdings; the sale covered tax withholding on vested equity awards.
- MBX shares were reported down 7.7%, opening at $48.46. The company also missed quarterly EPS estimates, reporting a loss of $0.78 per share versus the expected $0.68 loss.
- Analysts’ average rating was “Moderate Buy,” with an average price target of $87; ratings included 11 Buy or Strong Buy and two Sell recommendations.
MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) insider Salomon Azoulay sold 373 shares of the firm's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $53.96, for a total transaction of $20,127.08. Following the sale, the insider owned 14,026 shares in the company, valued at $756,842.96. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
MBX Biosciences Stock Down 7.7%
Shares of NASDAQ:MBX opened at $48.46 on Friday. MBX Biosciences, Inc. has a 12 month low of $21.90 and a 12 month high of $72.64. The company's fifty day simple moving average is $56.66 and its 200 day simple moving average is $45.93. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of -20.11 and a beta of 0.17.
MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.10). Research analysts expect that MBX Biosciences, Inc. will post -3.10 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on MBX shares. Wall Street Zen lowered MBX Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Barclays reaffirmed an "overweight" rating and set a $88.00 price objective on shares of MBX Biosciences in a research report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a report on Friday, August 21st. They set an "overweight" rating and a $88.00 price objective for the company. Guggenheim lifted their target price on MBX Biosciences from $88.00 to $150.00 and gave the company a "buy" rating in a research report on Friday, October 2nd. Finally, UBS Group restated a "buy" rating on shares of MBX Biosciences in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.00.
Check Out Our Latest Stock Analysis on MBX
Hedge Funds Weigh In On MBX Biosciences
Hedge funds have recently modified their holdings of the stock. Strs Ohio increased its position in shares of 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 acquiring an additional 900 shares during the last quarter. State of Wyoming bought a new stake in MBX Biosciences during the second quarter worth about $58,000. Sterling Capital Management LLC boosted its position 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. Mirae Asset Global Investments Co. Ltd. acquired a new position in MBX Biosciences during the third quarter valued at approximately $144,000. Finally, Quantbot Technologies LP acquired a new position in MBX Biosciences during the second quarter valued at approximately $213,000.
About MBX Biosciences
(
Get Free Report)
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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