MBX Biosciences (NYSE:MBX) Sets New 52-Week Low - Time to Sell?

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) shares reached a new 52-week low on Monday . The company traded as low as $20.00 and last traded at $20.00, with a volume of 103561 shares changing hands. The stock had previously closed at $21.24.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MBX. 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 for the company. Guggenheim initiated coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $44.00 target price for the company. Jefferies Financial Group assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a "buy" rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on MBX Biosciences in a research note on Tuesday, October 8th. They issued an "overweight" rating and a $30.00 price objective for the company.

MBX Biosciences Trading Down 6.5 %

Insider Buying and Selling

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

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