MBX Biosciences (NYSE:MBX) Now Covered by Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of MBX Biosciences (NYSE:MBX) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $40.00 target price on the stock.

Several other equities research analysts have also recently weighed in on MBX. JPMorgan Chase & Co. started coverage on MBX Biosciences in a research report on Tuesday. They issued an overweight rating and a $30.00 price objective for the company. Jefferies Financial Group initiated coverage on shares of MBX Biosciences in a research note on Tuesday. They set a buy rating and a $35.00 target price for the company.

MBX Biosciences Stock Performance

Shares of NYSE:MBX opened at $23.94 on Tuesday. MBX Biosciences has a twelve month low of $20.29 and a twelve month high of $26.19.

Insider Buying and Selling at MBX Biosciences

In other news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the 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 completion of the transaction, the insider now owns 4,552,774 shares in the company, valued at approximately $72,844,384. This trade 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 purchased 500,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased 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 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 document filed with the Securities & Exchange Commission, which is available 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 acquired at an average price 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 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.