MBX Biosciences (NYSE:MBX) Stock Price Down 3.5% – Should You Sell?

Shares of MBX Biosciences, Inc. (NYSE:MBX) traded down 3.5% on Friday . The stock traded as low as $23.26 and last traded at $23.64. 19,697 shares traded hands during trading, a decline of 86% from the average session volume of 142,220 shares. The stock had previously closed at $24.50.

MBX Biosciences Stock Down 3.7 %

Insider Activity at MBX Biosciences

In other news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the purchase, the insider now owns 4,552,774 shares in the company, valued at approximately $72,844,384. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Edward T. Mathers purchased 500,000 shares of MBX Biosciences stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $8,000,000.00. Following the transaction, the director now owns 3,614,486 shares of the company’s stock, valued at approximately $57,831,776. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the purchase, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.