MBX Biosciences (NYSE:MBX) Reaches New 52-Week High – What’s Next?

MBX Biosciences, Inc. (NYSE:MBX)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $27.50 and last traded at $24.57, with a volume of 20643 shares. The stock had previously closed at $23.06.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They set an “overweight” rating and a $30.00 price target on the stock. Guggenheim started coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $44.00 target price on the stock. Jefferies Financial Group started coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Stifel Nicolaus started coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 target price on the stock.

MBX Biosciences Stock Performance

Insider Activity

In other news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The stock was bought at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the insider now owns 4,552,774 shares in the company, valued at $72,844,384. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average price 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 trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following 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 ownership of the stock. 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.