MBX Biosciences (NYSE:MBX) Stock Price Up 8.2% – Should You Buy?

Shares of MBX Biosciences, Inc. (NYSE:MBX) traded up 8.2% during mid-day trading on Tuesday . The stock traded as high as $23.88 and last traded at $23.65. 76,414 shares were traded during trading, a decline of 40% from the average session volume of 126,430 shares. The stock had previously closed at $21.86.

Wall Street Analysts Forecast Growth

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

MBX Biosciences Stock Performance

Insider Activity at MBX Biosciences

In related news, Director Edward T. Mathers purchased 500,000 shares of MBX Biosciences 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 completion of the acquisition, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Edward T. Mathers acquired 500,000 shares of the 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 $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. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of MBX Biosciences 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 purchase, 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.