MBX Biosciences (NYSE:MBX) Hits New 1-Year Low – Here’s What Happened

Shares of MBX Biosciences, Inc. (NYSE:MBX) reached a new 52-week low during trading on Monday . The stock traded as low as $20.00 and last traded at $20.00, with a volume of 103561 shares trading hands. The stock had previously closed at $21.24.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 price target for the company. Stifel Nicolaus assumed coverage on 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. started coverage on MBX Biosciences in a research report on Tuesday, October 8th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Guggenheim began coverage on MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price target for the company.

MBX Biosciences Price Performance

Insider Activity at MBX Biosciences

In related news, Director Edward T. Mathers bought 500,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $8,000,000.00. Following the purchase, the director now directly owns 3,614,486 shares of the company’s stock, valued at approximately $57,831,776. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier bought 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 transaction, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward T. Mathers purchased 500,000 shares of the stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following the transaction, the director now directly owns 3,614,486 shares in the company, valued at approximately $57,831,776. This trade represents 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.