MBX Biosciences, Inc.’s Quiet Period To End on October 23rd (NYSE:MBX)

MBX Biosciences’ (NYSE:MBX) quiet period will end on Wednesday, October 23rd. MBX Biosciences had issued 10,200,000 shares in its public offering on September 13th. The total size of the offering was $163,200,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several research firms have weighed in on MBX. JPMorgan Chase & Co. began coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price objective for the company. Guggenheim began coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price objective for the company. Stifel Nicolaus began coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 price objective for the company.

MBX Biosciences Stock Up 0.3 %

MBX Biosciences stock opened at $23.97 on Wednesday. MBX Biosciences has a 12 month low of $20.29 and a 12 month high of $26.19.

Insider Transactions at MBX Biosciences

In other news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the purchase, the insider now directly owns 4,552,774 shares in the company, valued at approximately $72,844,384. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MBX Biosciences news, Director Edward T. Mathers bought 500,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the purchase, the director now owns 3,614,486 shares in the company, valued at $57,831,776. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $16.00 per share, for a total transaction 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. The trade was 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.