MBX Biosciences, Inc.’s (NYSE:MBX) Lock-Up Period To End on March 12th

MBX Biosciences’ (NYSE:MBX) lock-up period will end on Wednesday, March 12th. MBX Biosciences had issued 10,200,000 shares in its IPO on September 13th. The total size of the offering was $163,200,000 based on an initial share price of $16.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

MBX Biosciences Trading Down 3.6 %

MBX stock opened at $9.89 on Friday. The firm has a 50 day simple moving average of $11.83. MBX Biosciences has a 12 month low of $8.63 and a 12 month high of $27.50.

Insider Activity at MBX Biosciences

In related news, CEO P. Kent Hawryluk purchased 50,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were bought at an average price of $10.69 per share, with a total value of $534,500.00. Following the completion of the purchase, the chief executive officer now directly owns 448,277 shares in the company, valued at approximately $4,792,081.13. This trade represents a 12.55 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Carl L. Gordon bought 143,170 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was acquired at an average cost of $10.84 per share, for a total transaction of $1,551,962.80. Following the purchase, the director now owns 3,255,000 shares in the company, valued at approximately $35,284,200. This trade represents a 4.60 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 240,672 shares of company stock valued at $2,555,308.

Institutional Inflows and Outflows

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

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.