MBX Biosciences, Inc. (NYSE:MBX - Get Free Report)'s stock price fell 4% during trading on Monday . The company traded as low as $22.88 and last traded at $22.98. 26,325 shares were traded during mid-day trading, a decline of 83% from the average session volume of 153,330 shares. The stock had previously closed at $23.94.
MBX has been the topic of several recent analyst reports. Stifel Nicolaus began coverage on MBX Biosciences in a research report on Tuesday, October 8th. They set a "buy" rating and a $40.00 target price on the stock. Jefferies Financial Group began coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They set a "buy" rating and a $35.00 price objective for the company. Guggenheim assumed 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. Finally, JPMorgan Chase & Co. started coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They set an "overweight" rating and a $30.00 price target for the company.
In related news, Director Edward T. Mathers bought 500,000 shares of the firm's 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 $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 approximately $57,831,776. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Edward T. Mathers purchased 500,000 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was acquired at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the transaction, the director now owns 3,614,486 shares of the company's stock, valued at $57,831,776. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of MBX Biosciences stock in a transaction on Monday, September 16th. The shares were bought at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the purchase, the insider now directly owns 4,552,774 shares in the company, valued at $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, 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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