TD Asset Management Inc Reduces Stock Position in MBX Biosciences, Inc. $MBX

TD Asset Management Inc cut its holdings in MBX Biosciences, Inc. (NASDAQ:MBX) by 30.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 118,792 shares of the company’s stock after selling 52,512 shares during the period. TD Asset Management Inc’s holdings in MBX Biosciences were worth $2,079,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC boosted its stake in MBX Biosciences by 27.0% during the second quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock worth $3,976,000 after buying an additional 73,989 shares during the period. Intech Investment Management LLC raised its position in MBX Biosciences by 33.0% in the second quarter. Intech Investment Management LLC now owns 14,271 shares of the company’s stock valued at $163,000 after purchasing an additional 3,543 shares during the period. Rockefeller Capital Management L.P. acquired a new position in MBX Biosciences during the second quarter worth $389,000. Franklin Resources Inc. boosted its position in shares of MBX Biosciences by 34.0% during the second quarter. Franklin Resources Inc. now owns 494,852 shares of the company’s stock worth $5,646,000 after buying an additional 125,537 shares during the period. Finally, Rhumbline Advisers grew its stake in shares of MBX Biosciences by 171.6% in the second quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock valued at $270,000 after buying an additional 14,950 shares in the last quarter.

MBX Biosciences Stock Performance

Shares of MBX Biosciences stock opened at $31.31 on Thursday. The firm has a fifty day moving average of $35.87. The firm has a market cap of $1.41 billion, a PE ratio of -13.10 and a beta of 1.06. MBX Biosciences, Inc. has a 12-month low of $4.81 and a 12-month high of $44.89.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MBX shares. Wall Street Zen upgraded MBX Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, December 21st. Barclays started coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They issued an “overweight” rating and a $66.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, January 22nd. Stifel Nicolaus raised their price target on shares of MBX Biosciences from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Finally, Guggenheim upped their price objective on MBX Biosciences from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $51.56.

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.