Ora H. Pescovitz Buys 7,693 Shares of MBX Biosciences, Inc. (NYSE:MBX) Stock

MBX Biosciences, Inc. (NYSE:MBX) Director Ora H. Pescovitz purchased 7,693 shares of the firm’s stock in a transaction that occurred on Tuesday, April 8th. The stock was bought at an average price of $5.89 per share, for a total transaction of $45,311.77. Following the purchase, the director now owns 24,329 shares in the company, valued at $143,297.81. The trade was a 46.24 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

MBX Biosciences Trading Down 2.0 %

Shares of MBX stock opened at $6.27 on Friday. MBX Biosciences, Inc. has a 1 year low of $4.81 and a 1 year high of $27.50. The stock has a 50 day simple moving average of $8.95 and a 200 day simple moving average of $15.66.

Institutional Trading of MBX Biosciences

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets bought a new position in shares of MBX Biosciences in the fourth quarter worth $27,000. Virtus ETF Advisers LLC bought a new stake in MBX Biosciences during the fourth quarter worth about $64,000. Deutsche Bank AG acquired a new stake in MBX Biosciences during the fourth quarter worth about $80,000. Corebridge Financial Inc. bought a new position in MBX Biosciences in the 4th quarter valued at about $103,000. Finally, Wells Fargo & Company MN acquired a new position in shares of MBX Biosciences in the 4th quarter valued at approximately $108,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MBX. JMP Securities started coverage on MBX Biosciences in a report on Thursday. They set a “market outperform” rating and a $38.00 price objective for the company. Guggenheim reaffirmed a “buy” rating and issued a $44.00 price objective on shares of MBX Biosciences in a report on Thursday. Finally, Citizens Jmp initiated coverage on MBX Biosciences in a report on Thursday. They set an “outperform” rating and a $38.00 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $37.50.

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.