Insider Buying: MBX Biosciences, Inc. (NYSE:MBX) Major Shareholder Purchases 625,000 Shares of Stock

MBX Biosciences, Inc. (NYSE:MBX) major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the insider now directly owns 4,552,774 shares in the company, valued at approximately $72,844,384. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

MBX Biosciences Stock Performance

Shares of NYSE MBX traded down $0.15 during trading hours on Tuesday, reaching $21.50. The stock had a trading volume of 101,300 shares, compared to its average volume of 173,650. MBX Biosciences, Inc. has a twelve month low of $20.51 and a twelve month high of $26.08.

MBX Biosciences Company Profile

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.