Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its holdings in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 90.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,813 shares of the company’s stock after selling 16,461 shares during the period. Quantbot Technologies LP’s holdings in Longboard Pharmaceuticals were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. KBC Group NV acquired a new stake in Longboard Pharmaceuticals in the third quarter worth about $65,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Longboard Pharmaceuticals during the 2nd quarter valued at approximately $127,000. Arizona State Retirement System purchased a new position in shares of Longboard Pharmaceuticals in the second quarter worth $216,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Longboard Pharmaceuticals during the third quarter worth $221,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Longboard Pharmaceuticals during the third quarter valued at $271,000. Institutional investors and hedge funds own 63.28% of the company’s stock.

Longboard Pharmaceuticals Stock Performance

Shares of LBPH opened at $59.98 on Friday. The firm has a market cap of $2.34 billion, a P/E ratio of -26.90 and a beta of 1.00. Longboard Pharmaceuticals, Inc. has a 12 month low of $3.60 and a 12 month high of $60.03. The stock’s 50 day moving average is $54.80 and its two-hundred day moving average is $38.49.

Longboard Pharmaceuticals (NASDAQ:LBPH) last announced its earnings results on Thursday, November 7th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.04). Equities research analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.22 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LBPH shares. B. Riley restated a “neutral” rating and issued a $60.00 target price (up previously from $45.00) on shares of Longboard Pharmaceuticals in a research note on Monday, October 14th. Evercore ISI reissued an “outperform” rating and set a $80.00 price target on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Truist Financial restated a “hold” rating and set a $60.00 target price on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Finally, Wedbush downgraded Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Longboard Pharmaceuticals has an average rating of “Hold” and an average target price of $59.56.

Insider Buying and Selling

In other news, CMO Randall Kaye sold 16,667 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.03, for a total transaction of $983,853.01. Following the completion of the sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at $1,057,817.60. This represents a 48.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.64% of the stock is currently owned by insiders.

Longboard Pharmaceuticals Company Profile

Longboard Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on developing novel and transformative medicines for neurological diseases. The company develops bexicaserin (LP352), which has completed Phase 1b/2a clinical trial for the treatment of seizures associated with developmental and epileptic encephalopathies.