MBX Biosciences (NYSE:MBX) Shares Up 6.8% – Here’s What Happened

MBX Biosciences, Inc. (NYSE:MBX) shot up 6.8% on Tuesday . The company traded as high as $21.90 and last traded at $21.22. 63,611 shares changed hands during trading, a decline of 54% from the average session volume of 136,916 shares. The stock had previously closed at $19.86.

Wall Street Analyst Weigh In

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

MBX Biosciences Stock Performance

Insider Transactions at MBX Biosciences

In other news, Director Edward T. Mathers purchased 500,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were bought at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the transaction, the director now directly owns 3,614,486 shares in the company, valued at approximately $57,831,776. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, 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 on Monday, September 16th. The shares were bought at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the transaction, the director now directly owns 3,614,486 shares in the company, valued at approximately $57,831,776. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, 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 on 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 transaction, the insider now owns 4,552,774 shares of the company’s stock, valued at $72,844,384. This trade 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.