Key Points
- CEO Steven Hoerter sold 4,893 shares for about $268,234, reducing his direct stake by 5.9% to 78,045 shares. The sale was to cover tax withholding on vested equity awards.
- MBX reported a quarterly loss of $1.29 per share, wider than analysts’ expected loss of $0.80 per share.
- Analyst sentiment is mixed but leans positive: MarketBeat lists a “Moderate Buy” consensus and an average price target of $87.30, while ratings include both buys and sells.
MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) CEO Steven Hoerter sold 4,893 shares of the business's stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $54.82, for a total value of $268,234.26. Following the transaction, the chief executive officer directly owned 78,045 shares of the company's stock, valued at $4,278,426.90. This represents a 5.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
MBX Biosciences Stock Performance
Shares of NASDAQ:MBX opened at $54.51 on Friday. The business has a 50 day moving average price of $55.89 and a 200 day moving average price of $46.29. MBX Biosciences, Inc. has a twelve month low of $23.07 and a twelve month high of $72.64.
MBX Biosciences (NASDAQ:MBX - Get Free Report) last released its earnings results on Monday, November 9th. The company reported ($1.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.80) by ($0.49). Research analysts forecast that MBX Biosciences, Inc. will post -3.20 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on MBX shares. Stifel Nicolaus raised their price objective on shares of MBX Biosciences from $70.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, October 12th. Wall Street Zen cut shares of MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. HC Wainwright started coverage on shares of MBX Biosciences in a research note on Thursday. They set a "buy" rating and a $90.00 target price for the company. Weiss Ratings reissued a "sell (d-)" rating on shares of MBX Biosciences in a report on Thursday, October 15th. Finally, Mizuho raised their price target on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, MBX Biosciences currently has an average rating of "Moderate Buy" and an average price target of $87.30.
Read Our Latest Stock Report on MBX
Institutional Trading of MBX Biosciences
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sterling Capital Management LLC increased its stake in MBX Biosciences by 847.7% in the third quarter. Sterling Capital Management LLC now owns 1,033 shares of the company's stock valued at $61,000 after acquiring an additional 924 shares during the period. State of Wyoming acquired a new position in MBX Biosciences in the second quarter worth about $58,000. Sei Investments Co. lifted its stake in MBX Biosciences by 17.4% during the first quarter. Sei Investments Co. now owns 8,989 shares of the company's stock worth $268,000 after purchasing an additional 1,332 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in MBX Biosciences during the third quarter worth about $144,000. Finally, China Universal Asset Management Co. Ltd. lifted its stake in MBX Biosciences by 28.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 11,787 shares of the company's stock worth $681,000 after purchasing an additional 2,612 shares during the period.
MBX Biosciences Company Profile
(
Get Free Report)
MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company's research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.
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