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

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

Wall Street Analysts Forecast Growth

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

MBX Biosciences Trading Up 2.1 %

Insider Transactions at MBX Biosciences

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