TD Asset Management Inc Purchases 114,904 Shares of 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 grew its holdings in MBX Biosciences, Inc. (NYSE:MBX - Free Report) by 313.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,504 shares of the company's stock after buying an additional 114,904 shares during the period. TD Asset Management Inc owned 0.45% of MBX Biosciences worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of MBX Biosciences in the 4th quarter valued at $27,000. New York State Common Retirement Fund bought a new stake in MBX Biosciences during the 1st quarter worth $32,000. Virtus ETF Advisers LLC bought a new stake in MBX Biosciences during the 4th quarter worth $64,000. Deutsche Bank AG acquired a new position in MBX Biosciences during the 4th quarter worth about $80,000. Finally, Corebridge Financial Inc. acquired a new position in MBX Biosciences during the 4th quarter worth about $103,000.

MBX Biosciences Stock Up 5.8%

Shares of MBX traded up $0.65 during trading hours on Friday, hitting $11.78. The company had a trading volume of 526,661 shares, compared to its average volume of 324,961. The stock's 50 day moving average price is $12.19 and its 200 day moving average price is $10.54. MBX Biosciences, Inc. has a 52-week low of $4.81 and a 52-week high of $27.50.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Oppenheimer assumed coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price objective on the stock. Citizens Jmp initiated coverage on MBX Biosciences in a research note on Thursday, April 10th. They set an "outperform" rating and a $38.00 price target on the stock. Guggenheim reissued a "buy" rating and set a $44.00 price objective on shares of MBX Biosciences in a report on Thursday, April 10th. JMP Securities began coverage on 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 started coverage on MBX Biosciences in a report on Tuesday. They issued an "outperform" rating and a $38.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $37.63.

MBX Biosciences 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.