Shares of MBX Biosciences, Inc. (NYSE:MBX – Get Free Report) dropped 4.5% during trading on Friday . The company traded as low as $21.01 and last traded at $22.10. Approximately 51,340 shares traded hands during trading, a decline of 61% from the average daily volume of 131,975 shares. The stock had previously closed at $23.14.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Guggenheim initiated coverage on shares of MBX Biosciences in a research report on Tuesday, October 8th. They issued a “buy” rating and a $44.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price target on the stock. Jefferies Financial Group initiated coverage on MBX Biosciences in a report on Tuesday, October 8th. They set a “buy” rating and a $35.00 price objective for the company. Finally, Stifel Nicolaus began coverage on MBX Biosciences in a research note on Tuesday, October 8th. They issued a “buy” rating and a $40.00 target price on the stock.
Check Out Our Latest Stock Report on MBX
MBX Biosciences Trading Down 6.0 %
Insider Buying and Selling at MBX Biosciences
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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