JPMorgan Chase & Co. Begins Coverage on MBX Biosciences (NYSE:MBX)

JPMorgan Chase & Co. assumed coverage on shares of MBX Biosciences (NYSE:MBX) in a research report report published on Tuesday, MarketBeat reports. The firm issued an overweight rating and a $30.00 price target on the stock.

MBX Biosciences Trading Up 1.6 %

NYSE MBX opened at $23.94 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 news, Director Edward T. Mathers acquired 500,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $8,000,000.00. Following the purchase, the director now owns 3,614,486 shares of the company’s stock, valued at approximately $57,831,776. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Edward T. Mathers purchased 500,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was purchased at an average cost of $16.00 per share, with a total value 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the business’s 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 $10,000,000.00. Following the acquisition, the insider now directly owns 4,552,774 shares of the company’s stock, valued at $72,844,384. This represents 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.