MBX Biosciences (NYSE:MBX) Shares Up 8.2% – Time to Buy?

MBX Biosciences, Inc. (NYSE:MBX) rose 8.2% on Tuesday . The stock traded as high as $23.88 and last traded at $23.65. Approximately 76,414 shares traded hands during trading, a decline of 40% from the average daily volume of 126,430 shares. The stock had previously closed at $21.86.

Analysts Set New Price Targets

MBX has been the subject of several research analyst reports. JPMorgan Chase & Co. began coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $30.00 target price for the company. Jefferies Financial Group initiated coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $35.00 target price on the stock. Stifel Nicolaus started coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Guggenheim assumed coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price target on the stock.

MBX Biosciences Stock Up 5.5 %

Insider Transactions at MBX Biosciences

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

About MBX Biosciences

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.