MBX Biosciences (NYSE:MBX) Shares Gap Down – What’s Next?

Shares of 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 changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. started coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price target for the company. Jefferies Financial Group assumed coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $35.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Guggenheim initiated coverage on MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price objective on the stock.

MBX Biosciences Stock Performance

Insider Transactions at MBX Biosciences

In related news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $10,000,000.00. Following the acquisition, the insider now directly owns 4,552,774 shares of the company’s stock, valued at $72,844,384. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Edward T. Mathers purchased 500,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were acquired at an average price 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 in the company, valued at approximately $57,831,776. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost 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 of the company’s stock, 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.

About MBX Biosciences

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.