Steven L. Hoerter, Chairman, President, and CEO of MBX Biosciences, Inc. (NASDAQ:MBX), disposed of 4,893 shares of the company’s common stock on November 10, 2026, generating proceeds of $268,234. The shares were sold at a weighted average price of $54.82, with individual transactions falling within a range of $51.52 to $55.29.
The sale was executed to satisfy tax withholding obligations arising from the vesting of restricted stock units, in accordance with a mandatory sell-to-cover arrangement with the company. Such arrangements are commonly used by executives to cover tax liabilities without requiring additional out-of-pocket cash.
Following the transaction, Hoerter directly holds 78,045 shares of MBX Biosciences common stock. In addition, he indirectly holds 20,000 shares through the Steven L Hoerter Revocable Trust.
MBX shares last traded at $55.94, reflecting an 8.9% gain over the past week and a 126% return over the last year. According to InvestingPro analysis, the stock appears fairly valued at current levels.
In other recent developments, MBX Biosciences has drawn attention from several analyst firms. Citizens has maintained its Market Outperform rating on the stock with a price target of $86, highlighting promising data from MBX-4291, an injectable obesity treatment that has shown potential for once-monthly dosing with minimal gastrointestinal side effects. Truist Securities also reiterated its Buy rating and set a slightly higher price target of $88, emphasizing a favorable risk/reward profile ahead of the drug’s data readout expected in the fourth quarter of 2026.
Additionally, Stifel raised its price target for MBX Biosciences to $84 while maintaining a Buy rating, citing positive data from the Phase 1 trial of MBX-4291. The trial’s Part-B results demonstrated a smooth pharmacokinetic profile and high tolerability.
On the corporate front, MBX Biosciences announced the appointment of Peter Radovich as an independent director, expanding its board to eight members. The appointment followed a recommendation by the company’s Nominating and Corporate Governance Committee.