MBX Biosciences (NYSE:MBX) Now Covered by Jefferies Financial Group

Research analysts at Jefferies Financial Group initiated coverage on shares of MBX Biosciences (NYSE:MBX) in a report issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $35.00 price target on the stock. Jefferies Financial Group’s target price points to a potential upside of 51.71% from the stock’s previous close.

Separately, JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a report on Tuesday. They set an “overweight” rating and a $30.00 price target on the stock.

MBX Biosciences Stock Up 5.6 %

MBX stock opened at $23.07 on Tuesday. MBX Biosciences has a twelve month low of $20.29 and a twelve month high of $26.19.

Insider Transactions at MBX Biosciences

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