Guggenheim Begins Coverage on MBX Biosciences (NYSE:MBX)

Guggenheim began coverage on shares of MBX Biosciences (NYSE:MBX) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $44.00 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. Stifel Nicolaus assumed coverage on shares of MBX Biosciences in a research note on Tuesday. They issued a buy rating and a $40.00 price objective for the company. Jefferies Financial Group assumed coverage on MBX Biosciences in a research report on Tuesday. They issued a buy rating and a $35.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research note on Tuesday. They set an overweight rating and a $30.00 price objective on the stock.

MBX Biosciences Price Performance

NYSE MBX opened at $23.56 on Tuesday. MBX Biosciences has a one year low of $20.29 and a one year high of $26.19.

Insider Activity at MBX Biosciences

In other news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the firm’s stock in a transaction on 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 purchase, the insider now directly owns 4,552,774 shares in the company, valued at approximately $72,844,384. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier purchased 625,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The shares were purchased 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 owns 4,552,774 shares in the company, valued at $72,844,384. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward T. Mathers acquired 500,000 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now owns 3,614,486 shares in the company, valued at $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.