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

Shares of MBX Biosciences, Inc. (NYSE:MBXGet Free Report) 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.

Read Our Latest Report on MBX

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

(Get Free Report)

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.

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