MBX Biosciences, Inc.’s Quiet Period Set To Expire on October 23rd (NYSE:MBX)

MBX Biosciences’ (NYSE:MBX) quiet period is set to expire on Wednesday, October 23rd. MBX Biosciences had issued 10,200,000 shares in its IPO on September 13th. The total size of the offering was $163,200,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MBX shares. Jefferies Financial Group assumed coverage on shares of MBX Biosciences in a research note on Tuesday, October 8th. They issued a “buy” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. began coverage on MBX Biosciences in a research note on Tuesday, October 8th. They issued an “overweight” rating and a $30.00 price target for the company. Guggenheim began coverage on MBX Biosciences in a research note on Tuesday, October 8th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on MBX Biosciences in a report on Tuesday, October 8th. They issued a “buy” rating and a $40.00 price objective for the company.

MBX Biosciences Trading Up 2.3 %

Shares of NYSE:MBX opened at $24.09 on Wednesday. MBX Biosciences has a 52-week low of $20.29 and a 52-week high of $26.19.

Insider Activity

In other MBX Biosciences news, major shareholder Life Sciences X. L.P. Frazier bought 625,000 shares of the firm’s stock in a transaction that occurred on 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 owns 4,552,774 shares of the company’s stock, valued at $72,844,384. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Edward T. Mathers acquired 500,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The stock was bought at an average price of $16.00 per share, for a total transaction 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 approximately $57,831,776. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the transaction, 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 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.