MBX Biosciences (NYSE:MBX) Coverage Initiated at Guggenheim

Guggenheim started coverage on shares of MBX Biosciences (NYSE:MBX) in a report released on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $44.00 price objective on the stock.

MBX has been the topic of a number of other research reports. Stifel Nicolaus initiated coverage on MBX Biosciences in a research report on Tuesday. They issued a buy rating and a $40.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research note on Tuesday. They issued an overweight rating and a $30.00 price target for the company. Finally, Jefferies Financial Group assumed coverage on MBX Biosciences in a research note on Tuesday. They set a buy rating and a $35.00 price objective on the stock.

MBX Biosciences Stock Performance

Shares of MBX stock opened at $23.94 on Tuesday. MBX Biosciences has a 1 year low of $20.29 and a 1 year high of $26.19.

Insider Activity

In other MBX Biosciences news, Director Edward T. Mathers bought 500,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $8,000,000.00. Following the purchase, the director now owns 3,614,486 shares of the company’s stock, valued at $57,831,776. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Edward T. Mathers acquired 500,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost 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 $57,831,776. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the acquisition, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. 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.