MBX Biosciences, Inc.'s (NYSE:MBX) Quiet Period To End on October 23rd

MBX Biosciences' (NYSE:MBX - Get Free Report) quiet period will expire on Wednesday, October 23rd. MBX Biosciences had issued 10,200,000 shares in its IPO on September 13th. The total size of the offering was $163,200,000 based on an initial share price of $16.00. During MBX Biosciences' quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $35.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued an "overweight" rating and a $30.00 price objective for the company. Guggenheim assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $44.00 price objective for the company. Finally, Stifel Nicolaus assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $40.00 price objective for the company.

MBX Biosciences Stock Up 0.4 %

NYSE MBX traded up $0.10 during trading hours on Wednesday, reaching $24.19. The company's stock had a trading volume of 39,885 shares, compared to its average volume of 148,312. MBX Biosciences has a 1-year low of $20.29 and a 1-year high of $26.19.

Insider Buying and Selling

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average price 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 $72,844,384. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of MBX Biosciences stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average price 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 $72,844,384. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward T. Mathers acquired 500,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were purchased at an average price 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 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.

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.