MBX Biosciences (NYSE:MBX) Shares Up 6.8% – Still a Buy?

MBX Biosciences, Inc. (NYSE:MBXGet Free Report)’s share price traded up 6.8% during mid-day trading on Tuesday . The company traded as high as $21.90 and last traded at $21.22. 63,611 shares traded hands during trading, a decline of 54% from the average session volume of 136,916 shares. The stock had previously closed at $19.86.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $40.00 price target on the stock. Guggenheim assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $44.00 price target on the stock. JPMorgan Chase & Co. began coverage on MBX Biosciences in a report on Tuesday, October 8th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Jefferies Financial Group began coverage on MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $35.00 target price on the stock.

Check Out Our Latest Stock Report on MBX

MBX Biosciences Stock Performance

Insider Activity at MBX Biosciences

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

MBX Biosciences Company Profile

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for MBX Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MBX Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.