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 transaction, the insider directly owned 14,399 shares in the company, valued at $947,022.23. The trade was a 2.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

MBX Biosciences Stock Performance

NASDAQ MBX traded down $3.22 during trading on Wednesday, reaching $67.48. The company’s stock had a trading volume of 487,476 shares, compared to its average volume of 699,843. The business’s fifty day moving average price is $50.06 and its 200-day moving average price is $39.46. MBX Biosciences, Inc. has a twelve month low of $9.63 and a twelve month high of $72.64. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -30.53 and a beta of 0.10.

Institutional Investors Weigh In On MBX Biosciences

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its position in MBX Biosciences by 112.8% during the third quarter. Wellington Management Group LLP now owns 4,823,336 shares of the company’s stock worth $84,408,000 after buying an additional 2,556,708 shares in the last quarter. Deep Track Capital LP boosted its stake in shares of 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 acquiring an additional 961,408 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of MBX Biosciences by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 1,817,811 shares of the company’s stock valued at $57,334,000 after acquiring an additional 140,449 shares during the last quarter. Franklin Resources Inc. increased its position in MBX Biosciences by 164.2% during the 3rd quarter. Franklin Resources Inc. now owns 1,307,288 shares of the company’s stock worth $22,878,000 after purchasing an additional 812,436 shares in the last quarter. Finally, MPM Bioimpact LLC increased its position in MBX Biosciences by 14.3% during the 2nd quarter. MPM Bioimpact LLC now owns 1,294,416 shares of the company’s stock worth $14,769,000 after purchasing an additional 161,466 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MBX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Wall Street Zen upgraded shares of MBX Biosciences from a “sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. UBS Group restated a “buy” rating and issued a $90.00 price target on shares of MBX Biosciences in a research note on Thursday, July 23rd. Finally, Barclays increased their price objective on MBX Biosciences from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.12.

MBX Biosciences Company Profile

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.