MBX Biosciences (NYSE:MBX) Trading Down 4.1%

Shares of MBX Biosciences, Inc. (NYSE:MBX) fell 4.1% during trading on Friday . The stock traded as low as $23.29 and last traded at $23.49. 40,137 shares were traded during mid-day trading, a decline of 73% from the average session volume of 149,854 shares. The stock had previously closed at $24.49.

MBX Biosciences Trading Down 2.6 %

Insiders Place Their Bets

In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the stock in a transaction dated Monday, September 16th. The shares were acquired at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the acquisition, the insider now owns 4,552,774 shares in the company, valued at approximately $72,844,384. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the insider now owns 4,552,774 shares of the company’s stock, valued at approximately $72,844,384. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward T. Mathers bought 500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $8,000,000.00. Following the acquisition, the director now directly owns 3,614,486 shares in the company, valued at $57,831,776. The disclosure for this purchase can be found here.

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.