MBX Biosciences (NYSE:MBX) Shares Up 6.8% - Should You Buy?

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report)'s stock price traded up 6.8% during trading on Tuesday . The stock traded as high as $21.90 and last traded at $21.22. 63,611 shares traded hands during trading, a decline of 54% from the average session volume of 136,916 shares. The stock had previously closed at $19.86.

Analyst Upgrades and Downgrades

MBX has been the topic of a number of research analyst reports. Guggenheim assumed coverage on shares of MBX Biosciences in a report on Tuesday, October 8th. They set a "buy" rating and a $44.00 price objective on the stock. Jefferies Financial Group assumed coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set a "buy" rating and a $35.00 price target on the stock. Stifel Nicolaus began coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a "buy" rating and a $40.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on MBX Biosciences in a report on Tuesday, October 8th. They set an "overweight" rating and a $30.00 target price for the company.

MBX Biosciences Trading Up 10.1 %

Insider Activity at MBX Biosciences

In other news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the business's stock in a transaction dated Monday, September 16th. The stock was purchased at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the acquisition, the insider now directly 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 SEC, which is accessible through this hyperlink. In other MBX Biosciences news, Director Edward T. Mathers purchased 500,000 shares of the 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 $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 trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the business'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 $10,000,000.00. Following the completion of the transaction, the insider now directly owns 4,552,774 shares of the company's stock, valued at approximately $72,844,384. This represents 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.