MBX Biosciences, Inc.’s Lock-Up Period Will End Tomorrow (NYSE:MBX)

MBX Biosciences’ (NYSE:MBX) lock-up period is set to 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. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

MBX Biosciences Stock Down 9.2 %

MBX opened at $8.98 on Tuesday. The business has a 50 day simple moving average of $11.65. MBX Biosciences has a 12 month low of $8.63 and a 12 month high of $27.50.

Insider Buying and Selling

In other news, CEO P. Kent Hawryluk purchased 50,000 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average cost of $10.69 per share, with a total value of $534,500.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl L. Gordon acquired 47,502 shares of the stock in a transaction dated Friday, February 14th. The shares were bought at an average price 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 approximately $31,642,529.10. This represents a 1.50 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 240,672 shares of company stock valued at $2,555,308.

Institutional Trading of MBX Biosciences

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frazier Life Sciences Management L.P. purchased a new position in MBX Biosciences in the 3rd quarter worth $155,499,000. NEA Management Company LLC purchased a new position in shares of MBX Biosciences during the third quarter valued at about $93,904,000. Wellington Management Group LLP purchased a new stake in MBX Biosciences in the third quarter worth about $74,261,000. RA Capital Management L.P. purchased a new stake in MBX Biosciences in the third quarter worth about $39,264,000. Finally, Driehaus Capital Management LLC grew its holdings in MBX Biosciences by 61.2% in the fourth quarter. Driehaus Capital Management LLC now owns 1,581,760 shares of the company’s stock worth $29,152,000 after purchasing an additional 600,438 shares during the period.

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.