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

Quantbot Technologies LP lowered its position in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH - Free Report) by 90.1% during the third quarter, according to its most recent filing with the SEC. 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in shares of Longboard Pharmaceuticals in the 3rd quarter worth $65,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Longboard Pharmaceuticals in the 2nd quarter worth $127,000. Arizona State Retirement System acquired a new stake in shares of Longboard Pharmaceuticals in the 2nd quarter worth $216,000. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Longboard Pharmaceuticals in the 3rd quarter worth $221,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Longboard Pharmaceuticals during the 3rd quarter worth about $271,000. Hedge funds and other institutional investors own 63.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LBPH shares. Cantor Fitzgerald reissued a "neutral" rating on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Wedbush downgraded Longboard Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 14th. B. Riley reissued a "neutral" rating and set a $60.00 price objective (up from $45.00) on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. HC Wainwright reissued a "neutral" rating and set a $60.00 price objective (down from $80.00) on shares of Longboard Pharmaceuticals in a research report on Tuesday, October 15th. Finally, Evercore ISI reissued an "outperform" rating and set a $80.00 price objective on shares of Longboard Pharmaceuticals in a research report on Monday, August 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $59.56.

Insider Buying and Selling

In related news, CMO Randall Kaye sold 16,667 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was 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 in the company, valued at $1,057,817.60. The trade was a 48.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.64% of the stock is owned by company insiders.

Longboard Pharmaceuticals Stock Performance

Shares of LBPH remained flat at $59.98 during midday trading on Friday. The business's 50-day moving average price is $54.80 and its 200 day moving average price is $38.62. The stock has a market cap of $2.34 billion, a PE 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.

Longboard Pharmaceuticals (NASDAQ:LBPH - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.59) by ($0.04). On average, analysts predict that Longboard Pharmaceuticals, Inc. will post -2.22 earnings per share for the current fiscal year.

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.