P. Kent Hawryluk Acquires 50,000 Shares of MBX Biosciences, Inc. (NYSE:MBX) Stock

MBX Biosciences, Inc. (NYSE:MBX) CEO P. Kent Hawryluk bought 50,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was acquired at an average price of $10.69 per share, for a total transaction of $534,500.00. Following the purchase, the chief executive officer now directly owns 448,277 shares in the company, valued at approximately $4,792,081.13. The trade was a 12.55 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

MBX Biosciences Price Performance

Shares of NYSE:MBX traded up $0.32 during trading on Wednesday, reaching $11.25. The company had a trading volume of 136,342 shares, compared to its average volume of 282,447. The company has a fifty day moving average price of $16.47. MBX Biosciences, Inc. has a 12 month low of $9.42 and a 12 month high of $27.50.

MBX Biosciences (NYSE:MBX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($2.78) earnings per share for the quarter, missing the consensus estimate of ($2.72) by ($0.06). As a group, equities research analysts expect that MBX Biosciences, Inc. will post -13.21 EPS for the current year.

Hedge Funds Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company bought a new position in MBX Biosciences during the 3rd quarter valued at approximately $1,200,000. NEA Management Company LLC purchased a new position in shares of MBX Biosciences during the third quarter valued at approximately $93,904,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in MBX Biosciences in the third quarter worth about $278,000. Maven Securities LTD bought a new stake in shares of MBX Biosciences during the 3rd quarter valued at $1,299,000. Finally, Point72 Asset Management L.P. purchased a new stake in MBX Biosciences in the 3rd quarter worth approximately $405,000.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus initiated coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $40.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $35.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price objective on the stock. Finally, Guggenheim assumed coverage on MBX Biosciences in a research note on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price objective on the stock.

About MBX Biosciences

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.