Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its holdings in Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,497 shares of the company’s stock after selling 1,586 shares during the quarter. Jane Street Group LLC’s holdings in Longboard Pharmaceuticals were worth $950,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Integral Health Asset Management LLC raised its holdings in shares of Longboard Pharmaceuticals by 12.8% in the second quarter. Integral Health Asset Management LLC now owns 1,100,000 shares of the company’s stock valued at $29,733,000 after buying an additional 125,000 shares during the last quarter. State Street Corp increased its position in Longboard Pharmaceuticals by 6.7% in the 3rd quarter. State Street Corp now owns 855,814 shares of the company’s stock valued at $28,524,000 after acquiring an additional 53,962 shares during the period. Emerald Advisers LLC raised its stake in Longboard Pharmaceuticals by 199.2% during the 3rd quarter. Emerald Advisers LLC now owns 683,642 shares of the company’s stock valued at $22,786,000 after acquiring an additional 455,119 shares during the last quarter. Driehaus Capital Management LLC lifted its position in Longboard Pharmaceuticals by 25.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 488,793 shares of the company’s stock worth $13,212,000 after acquiring an additional 100,321 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Longboard Pharmaceuticals by 70.2% in the 2nd quarter. American Century Companies Inc. now owns 476,390 shares of the company’s stock valued at $12,877,000 after purchasing an additional 196,464 shares during the last quarter. Institutional investors and hedge funds own 63.28% of the company’s stock.

Insider Buying and Selling

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

Longboard Pharmaceuticals Trading Up 0.0 %

LBPH stock opened at $59.98 on Wednesday. The company’s 50-day moving average price is $59.85 and its 200 day moving average price is $43.71. Longboard Pharmaceuticals, Inc. has a 52 week low of $3.60 and a 52 week high of $60.03. The company has a market cap of $2.34 billion, a P/E ratio of -26.90 and a beta of 1.00.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on LBPH shares. HC Wainwright restated a “neutral” rating and set a $60.00 price target (down previously from $80.00) on shares of Longboard Pharmaceuticals in a research note on Tuesday, October 15th. Cantor Fitzgerald restated a “neutral” rating on shares of Longboard Pharmaceuticals in a research report on Monday, October 14th. Truist Financial reaffirmed a “hold” rating and issued a $60.00 target price on shares of Longboard Pharmaceuticals in a report on Tuesday, October 15th. Wedbush cut shares of Longboard Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, October 14th. Finally, B. Riley reaffirmed a “neutral” rating and issued a $60.00 price objective (up previously from $45.00) on shares of Longboard Pharmaceuticals in a report on Monday, October 14th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.56.

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.