MBX Biosciences (NYSE:MBX) Coverage Initiated at JMP Securities

Equities research analysts at JMP Securities assumed coverage on shares of MBX Biosciences (NYSE:MBX) in a research note issued on Thursday,Benzinga reports. The brokerage set a “market outperform” rating and a $38.00 price target on the stock.

MBX Biosciences Trading Down 3.0 %

NYSE MBX traded down $0.19 on Thursday, reaching $6.21. 85,504 shares of the stock traded hands, compared to its average volume of 235,206. MBX Biosciences has a 12 month low of $4.81 and a 12 month high of $27.50. The company has a fifty day moving average price of $9.04 and a 200-day moving average price of $15.77.

Insider Activity at MBX Biosciences

In other news, Director Carl L. Gordon purchased 47,502 shares of the stock in a transaction dated Friday, February 14th. The shares were acquired at an average cost of $9.87 per share, for a total transaction of $468,844.74. Following the acquisition, the director now owns 3,205,930 shares of the company’s stock, valued at approximately $31,642,529.10. This represents a 1.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO P. Kent Hawryluk acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was purchased at an average cost of $10.69 per share, for a total transaction of $534,500.00. Following the transaction, the chief executive officer now owns 448,277 shares in the company, valued at approximately $4,792,081.13. The trade was a 12.55 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 240,672 shares of company stock valued at $2,555,308 over the last quarter.

Institutional Trading of MBX Biosciences

Institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new position in MBX Biosciences during the 4th quarter valued at about $27,000. Virtus ETF Advisers LLC acquired a new position in shares of MBX Biosciences during the fourth quarter valued at about $64,000. Deutsche Bank AG purchased a new position in shares of MBX Biosciences in the 4th quarter valued at approximately $80,000. Corebridge Financial Inc. acquired a new stake in MBX Biosciences in the 4th quarter worth approximately $103,000. Finally, Wells Fargo & Company MN acquired a new position in MBX Biosciences during the 4th quarter valued at approximately $108,000.

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.