MBX Biosciences (NYSE:MBX) Hits New 52-Week Low – Should You Sell?

MBX Biosciences, Inc. (NYSE:MBX) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $20.00 and last traded at $20.00, with a volume of 103561 shares. The stock had previously closed at $21.24.

Analyst Upgrades and Downgrades

MBX has been the subject of a number of recent analyst reports. Guggenheim began coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $44.00 price target for the company. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 target price on the stock. Jefferies Financial Group assumed coverage on MBX Biosciences in a research report on Tuesday, October 8th. They set a “buy” rating and a $35.00 price target for the company. 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 price objective on the stock.

MBX Biosciences Price Performance

Insider Activity at MBX Biosciences

In other MBX Biosciences news, Director Edward T. Mathers acquired 500,000 shares of the stock in a transaction dated Monday, September 16th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $8,000,000.00. Following the acquisition, the director now owns 3,614,486 shares in the company, valued at $57,831,776. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The shares were purchased at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, 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 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.