MBX Biosciences (NYSE:MBX) Stock Price Down 4% - What's Next?

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report)'s stock price traded down 4% during mid-day trading on Monday . The stock traded as low as $22.88 and last traded at $22.98. 26,325 shares traded hands during trading, a decline of 83% from the average session volume of 153,330 shares. The stock had previously closed at $23.94.

Analysts Set New Price Targets

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

MBX Biosciences Stock Down 1.6 %

Insider Activity at MBX Biosciences

In other news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 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 $10,000,000.00. Following the completion of the transaction, the insider now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Edward T. Mathers acquired 500,000 shares of the business's stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $16.00 per share, with a total value of $8,000,000.00. Following the transaction, the director now directly owns 3,614,486 shares of the company's stock, valued at $57,831,776. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were bought at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the purchase, the insider now directly owns 4,552,774 shares in the company, valued at approximately $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.