MBX Biosciences (NYSE:MBX) Shares Gap Down – Should You Sell?

MBX Biosciences, Inc. (NYSE:MBX) gapped down before the market opened on Monday . The stock had previously closed at $22.46, but opened at $21.87. MBX Biosciences shares last traded at $22.26, with a volume of 2,898 shares.

Analyst Upgrades and Downgrades

Several research firms recently commented on MBX. JPMorgan Chase & Co. started coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price objective on the stock. Stifel Nicolaus assumed coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 price target on the stock. Guggenheim assumed coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $44.00 target price on the stock. Finally, 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 target price on the stock.

MBX Biosciences Stock Performance

Insider Activity at MBX Biosciences

In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was purchased at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the acquisition, 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 filing with the SEC, which can be accessed through this hyperlink. In other news, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences stock in a transaction on 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 completion of the acquisition, the director now owns 3,614,486 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was purchased at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider now directly owns 4,552,774 shares of the company’s stock, valued at approximately $72,844,384. The trade was 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.