Rhumbline Advisers lifted its position in shares of Longboard Pharmaceuticals, Inc. (NASDAQ:LBPH – Free Report) by 41.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,476 shares of the company’s stock after purchasing an additional 12,500 shares during the quarter. Rhumbline Advisers owned 0.11% of Longboard Pharmaceuticals worth $1,148,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of LBPH. Ameritas Investment Partners Inc. raised its position in shares of Longboard Pharmaceuticals by 93.3% during the first quarter. Ameritas Investment Partners Inc. now owns 2,486 shares of the company’s stock worth $54,000 after purchasing an additional 1,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Longboard Pharmaceuticals during the second quarter worth approximately $127,000. SG Americas Securities LLC acquired a new position in shares of Longboard Pharmaceuticals during the first quarter worth approximately $132,000. Denali Advisors LLC acquired a new position in shares of Longboard Pharmaceuticals during the first quarter worth approximately $201,000. Finally, American International Group Inc. raised its position in Longboard Pharmaceuticals by 58.6% in the 1st quarter. American International Group Inc. now owns 12,283 shares of the company’s stock valued at $265,000 after buying an additional 4,540 shares during the last quarter. 63.28% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Longboard Pharmaceuticals news, CMO Randall Kaye sold 16,666 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $31.64, for a total value of $527,312.24. Following the sale, the chief marketing officer now owns 17,920 shares of the company’s stock, valued at approximately $566,988.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 33,433 shares of company stock worth $1,108,244 in the last quarter. 4.64% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Longboard Pharmaceuticals Stock Performance
LBPH stock opened at $33.89 on Monday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -15.13 and a beta of 1.24. Longboard Pharmaceuticals, Inc. has a fifty-two week low of $3.60 and a fifty-two week high of $40.48. The stock has a fifty day moving average of $34.80 and a 200-day moving average of $26.02.
Longboard Pharmaceuticals (NASDAQ:LBPH – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.56) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.10). During the same period in the prior year, the company posted ($0.65) earnings per share. Equities analysts predict that Longboard Pharmaceuticals, Inc. will post -2.13 EPS for the current year.
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.
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