MBX Biosciences (NYSE:MBX) Shares Gap Down – Time to Sell?

Shares of MBX Biosciences, Inc. (NYSE:MBX) gapped down prior to trading on Monday . The stock had previously closed at $22.46, but opened at $21.87. MBX Biosciences shares last traded at $22.26, with a volume of 2,898 shares traded.

Analyst Ratings Changes

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

MBX Biosciences Stock Performance

Insider Buying and Selling at MBX Biosciences

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

MBX Biosciences Company Profile

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.