KBC Group NV Acquires New Position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH)

KBC Group NV bought a new position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,954 shares of the company’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its position in shares of Longboard Pharmaceuticals by 30.4% during the 2nd quarter. Squarepoint Ops LLC now owns 13,972 shares of the company’s stock valued at $378,000 after purchasing an additional 3,260 shares during the period. American International Group Inc. raised its holdings in Longboard Pharmaceuticals by 58.6% during the first quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after acquiring an additional 4,540 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Longboard Pharmaceuticals in the second quarter valued at about $127,000. SG Americas Securities LLC bought a new position in shares of Longboard Pharmaceuticals in the first quarter worth about $132,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Longboard Pharmaceuticals during the third quarter worth about $221,000. Institutional investors own 63.28% of the company’s stock.

Longboard Pharmaceuticals Trading Up 0.1 %

Shares of NASDAQ:LBPH opened at $59.80 on Friday. The company has a 50-day moving average price of $49.11 and a 200 day moving average price of $35.88. Longboard Pharmaceuticals, Inc. has a 12 month low of $3.60 and a 12 month high of $59.95. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -26.82 and a beta of 1.07.

Longboard Pharmaceuticals (NASDAQ:LBPH) last posted its quarterly earnings data 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). As a group, equities analysts forecast that Longboard Pharmaceuticals, Inc. will post -2.22 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CMO Randall Kaye sold 16,667 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.03, for a total transaction of $983,853.01. Following the transaction, the chief marketing officer now directly owns 17,920 shares in the company, valued at approximately $1,057,817.60. This represents a 48.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.64% of the stock is owned by corporate insiders.

About Longboard Pharmaceuticals

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.