Guggenheim Begins Coverage on MBX Biosciences (NYSE:MBX)

Analysts at Guggenheim assumed coverage on shares of MBX Biosciences (NYSE:MBX) in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm set a “buy” rating and a $44.00 price target on the stock. Guggenheim’s price objective suggests a potential upside of 81.82% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group assumed coverage on shares of MBX Biosciences in a research note on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. began coverage on MBX Biosciences in a report on Tuesday. They set an “overweight” rating and a $30.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on MBX Biosciences in a research note on Tuesday. They set a “buy” rating and a $40.00 price target for the company.

MBX Biosciences Trading Up 1.9 %

Shares of MBX Biosciences stock opened at $24.20 on Tuesday. MBX Biosciences has a 52-week low of $20.29 and a 52-week high of $26.19.

Insider Buying and Selling at MBX Biosciences

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of the business’s 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 acquisition, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, 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 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward T. Mathers purchased 500,000 shares of the stock in a transaction on Monday, September 16th. The stock was acquired 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 approximately $57,831,776. This trade represents a 0.00 % increase in their ownership of the stock. 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.