TD Asset Management Inc Raises Stake in MBX Biosciences, Inc. (NYSE:MBX)

Key Points

• TD Asset Management Inc increased its stake in MBX Biosciences by 313.9% during the first quarter, owning about 0.45% of the company valued at $1,118,000.
• Several institutional investors have also shown interest in MBX, with notable purchases including the New York State Common Retirement Fund and Aaron Wealth Advisors LLC.
• MBX Biosciences has garnered strong analyst support, with seven investment analysts rating the stock as a "buy" and an average target price of $37.57.

TD Asset Management Inc boosted its stake in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 313.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,504 shares of the company's stock after buying an additional 114,904 shares during the period. TD Asset Management Inc owned approximately 0.45% of MBX Biosciences worth $1,118,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in MBX Biosciences in the 4th quarter valued at approximately $27,000. Virtus ETF Advisers LLC purchased a new position in MBX Biosciences in the fourth quarter valued at $64,000. New York State Common Retirement Fund purchased a new stake in MBX Biosciences during the 1st quarter worth about $32,000. Deutsche Bank AG acquired a new position in shares of MBX Biosciences during the 4th quarter worth about $80,000. Finally, Corebridge Financial Inc. acquired a new position in shares of MBX Biosciences during the 4th quarter worth about $103,000.

MBX Biosciences Stock Performance

MBX stock traded down $0.28 during midday trading on Wednesday, hitting $11.67. 428,333 shares of the stock were exchanged, compared to its average volume of 323,643. MBX Biosciences, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $27.50. The stock's 50-day moving average price is $12.23 and its 200-day moving average price is $10.53.

Analysts Set New Price Targets

MBX has been the subject of several research analyst reports. Guggenheim restated a "buy" rating and issued a $44.00 target price on shares of MBX Biosciences in a report on Thursday, April 10th. Citizens Jmp initiated coverage on MBX Biosciences in a research report on Thursday, April 10th. They set an "outperform" rating and a $38.00 target price on the stock. Oppenheimer assumed coverage on MBX Biosciences in a research report on Wednesday, July 16th. They set an "outperform" rating and a $38.00 price target on the stock. JMP Securities assumed coverage on shares of MBX Biosciences in a report on Thursday, April 10th. They issued a "market outperform" rating and a $38.00 target price for the company. Finally, Mizuho assumed coverage on MBX Biosciences in a research report on Tuesday. They issued an "outperform" rating and a $38.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $37.63.

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.