Salomon Azoulay Sells 370 Shares of MBX Biosciences (NASDAQ:MBX) Stock

MBX Biosciences, Inc. (NASDAQ:MBX) insider Salomon Azoulay sold 370 shares of MBX Biosciences stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $65.77, for a total transaction of $24,334.90. Following the completion of the sale, the insider directly owned 14,399 shares of the company’s stock, valued at approximately $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 through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Stock Performance

MBX opened at $67.11 on Friday. The company has a market cap of $3.19 billion, a PE ratio of -30.37 and a beta of 0.10. The stock has a 50-day moving average of $51.47 and a 200-day moving average of $39.83. MBX Biosciences, Inc. has a 52-week low of $9.63 and a 52-week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings data 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). On average, research analysts predict that MBX Biosciences, Inc. will post -2.84 earnings per share for the current year.

Institutional Trading of MBX Biosciences

A number of institutional investors and hedge funds have recently modified their holdings of MBX. Wellington Management Group LLP boosted its position in shares of MBX Biosciences by 112.8% during the 3rd quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock valued at $84,408,000 after acquiring an additional 2,556,708 shares in the last quarter. Aaron Wealth Advisors LLC raised its position in MBX Biosciences by 1,568.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after purchasing an additional 1,098,176 shares in the last quarter. Braidwell LP bought a new position in MBX Biosciences during the fourth quarter worth about $32,127,000. Deep Track Capital LP boosted its holdings in MBX Biosciences by 43.9% during the third quarter. Deep Track Capital LP now owns 3,150,000 shares of the company’s stock valued at $55,125,000 after purchasing an additional 961,408 shares in the last quarter. Finally, Eventide Asset Management LLC acquired a new stake in MBX Biosciences during the fourth quarter valued at approximately $28,071,000.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MBX. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Barclays boosted their target price 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 report on Friday, July 17th. Wall Street Zen raised MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, Mizuho lifted their price objective on MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, MBX Biosciences presently has an average rating of “Moderate Buy” and a consensus price target of $71.12.

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.