TD Asset Management Inc Has $1.96 Million Holdings in MBX Biosciences, Inc. $MBX

TD Asset Management Inc increased its stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX - Free Report) by 13.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,304 shares of the company's stock after purchasing an additional 19,800 shares during the period. TD Asset Management Inc owned approximately 0.51% of MBX Biosciences worth $1,955,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MBX. New York State Common Retirement Fund acquired a new stake in shares of MBX Biosciences during the first quarter worth $32,000. Deutsche Bank AG grew its stake in shares of MBX Biosciences by 102.0% during the first quarter. Deutsche Bank AG now owns 8,762 shares of the company's stock worth $65,000 after purchasing an additional 4,424 shares during the period. Wealthedge Investment Advisors LLC acquired a new stake in shares of MBX Biosciences during the first quarter worth $88,000. Nuveen LLC acquired a new stake in shares of MBX Biosciences during the first quarter worth $107,000. Finally, Koa Wealth Management LLC acquired a new stake in shares of MBX Biosciences during the first quarter worth $143,000.

Insider Activity

In other news, Director Patrick J. Heron purchased 666,666 shares of the business's stock in a transaction dated Friday, September 26th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $11,999,988.00. Following the completion of the acquisition, the director directly owned 5,219,440 shares in the company, valued at approximately $93,949,920. This trade represents a 14.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO P. Kent Hawryluk purchased 20,000 shares of the business's stock in a transaction dated Monday, October 20th. The stock was purchased at an average price of $13.64 per share, for a total transaction of $272,800.00. Following the completion of the acquisition, the chief executive officer owned 468,277 shares of the company's stock, valued at approximately $6,387,298.28. This represents a 4.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 706,666 shares of company stock worth $12,537,788 over the last three months.

Wall Street Analysts Forecast Growth

MBX has been the subject of a number of analyst reports. Wall Street Zen raised MBX Biosciences from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Citigroup reissued an "outperform" rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Truist Financial started coverage on MBX Biosciences in a research note on Wednesday, October 15th. They issued a "buy" rating and a $50.00 target price for the company. Mizuho boosted their target price on MBX Biosciences from $38.00 to $56.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. Finally, Oppenheimer started coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $44.00.

MBX Biosciences Trading Up 7.6%

Shares of MBX Biosciences stock opened at $15.31 on Wednesday. The company has a market capitalization of $514.26 million and a price-to-earnings ratio of -3.37. The firm has a 50-day moving average price of $14.36. MBX Biosciences, Inc. has a one year low of $4.81 and a one year high of $27.50.

About MBX Biosciences

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.

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