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

by · The Cerbat Gem

MBX Biosciences, Inc. (NYSE:MBX – Get Free Report)’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.

Read Our Latest Research Report on MBX

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

(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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