MBX Biosciences (NYSE:MBX) Director Patrick Heron Buys 666,666 Shares

MBX Biosciences, Inc. (NYSE:MBX) Director Patrick Heron purchased 666,666 shares of the stock in a transaction that occurred on Friday, September 26th. The shares were acquired at an average cost of $18.00 per share, with a total value of $11,999,988.00. Following the completion of the transaction, the director owned 5,219,440 shares in the company, valued at $93,949,920. This trade represents a 14.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

MBX Biosciences Stock Performance

Shares of NYSE MBX opened at $17.50 on Wednesday. The company has a 50 day simple moving average of $13.64 and a two-hundred day simple moving average of $11.42. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The company has a market capitalization of $587.90 million and a price-to-earnings ratio of -3.85.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MBX. Mizuho lifted their price objective on MBX Biosciences from $38.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Citigroup reiterated an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Finally, Oppenheimer began coverage on shares of MBX Biosciences in a research report on Wednesday, July 16th. They set an “outperform” rating and a $38.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $39.88.

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds have recently bought and sold shares of the business. Woodline Partners LP boosted its holdings in shares of MBX Biosciences by 44.1% during the 1st quarter. Woodline Partners LP now owns 877,461 shares of the company’s stock valued at $6,476,000 after acquiring an additional 268,740 shares during the last quarter. Parkman Healthcare Partners LLC lifted its position in MBX Biosciences by 93.1% during the first quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company’s stock valued at $2,423,000 after purchasing an additional 158,323 shares during the period. Jump Financial LLC purchased a new stake in MBX Biosciences in the first quarter worth approximately $214,000. Walleye Capital LLC bought a new stake in shares of MBX Biosciences in the first quarter worth $240,000. Finally, Exome Asset Management LLC bought a new stake in shares of MBX Biosciences during the 1st quarter valued at about $982,000.

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.