Stock analysts at Stifel Nicolaus assumed coverage on shares of MBX Biosciences (NYSE:MBX – Get Free Report) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Stifel Nicolaus’ target price indicates a potential upside of 65.29% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research note on Tuesday. They issued an “overweight” rating and a $30.00 price objective on the stock. Jefferies Financial Group assumed coverage on MBX Biosciences in a research report on Tuesday. They set a “buy” rating and a $35.00 price target on the stock.
Check Out Our Latest Stock Report on MBX Biosciences
MBX Biosciences Stock Performance
Insiders Place Their Bets
In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other MBX Biosciences news, Director Edward T. Mathers purchased 500,000 shares of MBX Biosciences stock in a transaction dated 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 transaction, the director now owns 3,614,486 shares in the company, valued at approximately $57,831,776. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the transaction, the insider now directly owns 4,552,774 shares in the company, 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.
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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