MBX Biosciences eases after stock offering announced
Shares of MBX Biosciences MBX.O down 4.5% at $19.11 on Tues as co looks to raise equity after its stock doubled in prior session
MBX shares on Mon closed up 100% at $20 after co said its experimental drug, canvuparatide, met main goal in mid-stage trial for adults with chronic hypoparathyroidism, a hormone disorder that causes low calcium levels
After the bell, Carmel, Indiana-based MBX announced 10 million share offering
W ith ~33.6 mln shares outstanding, co has about $640 mln market cap
JP Morgan, Jefferies, TD Cowen and Guggenheim are joint bookrunners for the offering
Separately, Oppenheimer hiked its PT from $38 to $80
Avg rating among 7 analysts covering MBX is "strong buy" and median PT is $45, per LSEG data
MBX went public last Sept after IPO of 10.2 mln shares priced at $16
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