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

MBX Biosciences' (NYSE:MBX - Get Free Report) lock-up period will expire 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. After the expiration of the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

MBX Biosciences Price Performance

Shares of MBX traded down $0.37 during trading hours on Friday, hitting $9.89. The stock had a trading volume of 138,702 shares, compared to its average volume of 226,513. The business's 50 day moving average is $11.83. MBX Biosciences has a 1-year low of $8.63 and a 1-year high of $27.50.

Insider Activity

In other news, CEO P. Kent Hawryluk bought 50,000 shares of MBX Biosciences stock in a transaction dated Tuesday, February 4th. The stock was bought at an average cost of $10.69 per share, for a total transaction of $534,500.00. Following the purchase, the chief executive officer now directly owns 448,277 shares in the company, valued at approximately $4,792,081.13. This represents a 12.55 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carl L. Gordon purchased 47,502 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was acquired at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the transaction, the director now owns 3,205,930 shares in the company, valued at $31,642,529.10. This represents a 1.50 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 240,672 shares of company stock worth $2,555,308 in the last three months.

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Hedge Funds Weigh In On MBX Biosciences

Several large investors have recently added to or reduced their stakes in MBX. BNP Paribas Financial Markets bought a new position in MBX Biosciences in the 4th quarter valued at about $27,000. Virtus ETF Advisers LLC bought a new position in MBX Biosciences in the 4th quarter valued at about $64,000. Deutsche Bank AG bought a new position in MBX Biosciences in the 4th quarter valued at 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 bought a new position in MBX Biosciences in the 4th quarter valued at about $108,000.

About MBX Biosciences

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.