The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. MBX Biosciences Inc shares valued at $8,000,000 were purchased by Mathers Edward T on Sep 16 ’24. At $16.00 per share, Mathers Edward T acquired 500,000 shares. The insider’s holdings grew to 3,614,486 shares worth approximately $75.8 million following the completion of this transaction.
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Also, BASKETT FOREST purchased 500,000 shares, netting a total of over 8,000,000 in proceeds. Following the buying of shares at $16.00 each, the insider now holds 3,614,486 shares.
Before that, Behbahani Ali had added 500,000 shares to its account. In a trade valued at $8,000,000, the 10% Owner bought MBX Biosciences Inc shares for $16.00 each. Upon closing the transaction, the insider’s holdings increased to 500,000 shares, worth approximately $75.8 million.
As published in their initiating research note from Stifel on October 08, 2024, MBX Biosciences Inc [MBX] has been a Buy and the price target has been revised to $40. Analysts at JP Morgan started covering the stock with ‘”an Overweight”‘ outlook in a report released in early October. As of October 08, 2024, Jefferies has initiated its “Buy” rating for MBX. Earlier on October 08, 2024, Guggenheim initiated its rating. Their recommendation was “a Buy” for MBX stock.
Analyzing MBX Stock Performance
During the last five days, there has been a surge of approximately 29.13%. Over the course of the year, MBX Biosciences Inc shares have dropped approximately -11.33%. Nevertheless, trading volume fell to 0.12 million shares from 0.2 million shares the previous day.
Support And Resistance Levels for MBX Biosciences Inc (MBX)
According to the 24-hour chart, there is a support level at 19.78, which, if violated, would cause prices to drop to 18.59. In the upper region, resistance lies at 22.38. The next price resistance is at 23.79. RSI (Relative Strength Index) is 52.25 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.71, which suggests the price will decrease in the coming days. Percent R is at 37.04%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
