TD Asset Management Inc Buys 19,800 Shares of MBX Biosciences, Inc. $MBX

TD Asset Management Inc increased its stake in shares of MBX Biosciences, Inc. (NASDAQ:MBX) by 13.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 171,304 shares of the company’s stock after acquiring an additional 19,800 shares during the period. TD Asset Management Inc’s holdings in MBX Biosciences were worth $1,955,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MBX. Aaron Wealth Advisors LLC bought a new stake in MBX Biosciences during the first quarter worth about $369,000. New York State Common Retirement Fund bought a new stake in MBX Biosciences during the first quarter worth about $32,000. Charles Schwab Investment Management Inc. raised its stake in MBX Biosciences by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 94,546 shares of the company’s stock valued at $698,000 after buying an additional 1,235 shares during the period. Deutsche Bank AG raised its stake in MBX Biosciences by 102.0% in the first quarter. Deutsche Bank AG now owns 8,762 shares of the company’s stock valued at $65,000 after buying an additional 4,424 shares during the period. Finally, Koa Wealth Management LLC bought a new stake in MBX Biosciences in the first quarter valued at approximately $143,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Wednesday, October 8th. Wall Street Zen upgraded MBX Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. 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. Mizuho upped their price objective 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, Citigroup restated an “outperform” rating on shares of MBX Biosciences in a research note on Monday, September 22nd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Insider Transactions at MBX Biosciences

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

MBX Biosciences Stock Performance

Shares of NASDAQ MBX 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. MBX Biosciences, Inc. has a 1-year low of $4.81 and a 1-year high of $27.50. The business’s 50 day moving average price is $14.36.

MBX Biosciences Company Profile

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.