Fintel reports that Integrated Core Strategies (us) Llc has filed a 13G/A form with the SEC disclosing ownership of 0.99MM shares of Longboard Pharmaceuticals Inc (LBPH). This represents 7.3% of the company.
In their previous filing dated January 12, 2022 they reported 0.78MM shares and 5.70% of the company, an increase in shares of 27.37% and an increase in total ownership of 1.60% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 259.25% Upside
As of January 24, 2023, the average one-year price target for Longboard Pharmaceuticals is $19.04. The forecasts range from a low of $11.11 to a high of $26.25. The average price target represents an increase of 259.25% from its latest reported closing price of $5.30.
The projected annual revenue for Longboard Pharmaceuticals is $0MM. The projected annual EPS is $-2.29.
Fund Sentiment
There are 43 funds or institutions reporting positions in Longboard Pharmaceuticals Inc. This is a decrease of 4 owner(s) or 8.51%.
Average portfolio weight of all funds dedicated to Longboard Pharmaceuticals Inc is 0.0235%, an increase of 14.8336%. Total shares owned by institutions decreased in the last three months by 3.60% to 7,392,342 shares.
What are large shareholders doing?
Cormorant Asset Management, LP holds 2,118,283 shares representing 12.30% ownership of the company. In it's prior filing, the firm reported owning 2,273,221 shares, representing a decrease of 7.31%. The firm increased its portfolio allocation in LBPH by 3.71% over the last quarter.
Price T Rowe Associates Inc /md/ holds 1,509,775 shares representing 8.77% ownership of the company. In it's prior filing, the firm reported owning 1,511,739 shares, representing a decrease of 0.13%. The firm decreased its portfolio allocation in LBPH by 30.51% over the last quarter.
Millennium Management Llc holds 1,054,559 shares representing 6.13% ownership of the company. In it's prior filing, the firm reported owning 1,043,216 shares, representing an increase of 1.08%. The firm increased its portfolio allocation in LBPH by 15.99% over the last quarter.
Farallon Capital Management Llc holds 810,500 shares representing 4.71% ownership of the company. No change in the last quarter.
Orbimed Advisors Llc holds 113,500 shares representing 0.66% ownership of the company. No change in the last quarter.
Longboard Pharmaceuticals Inc Background Information
(This description is provided by the company.)
Longboard Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing novel, transformative medicines for neurological diseases. Longboard was formed in January 2020 by Arena to advance a portfolio of centrally acting product candidates designed to be highly selective for specific GPCRs. Longboard’s small molecule product candidates were discovered out of the same platform at Arena that represents a culmination of more than 20 years of GPCR research. Longboard is evaluating LP352, an oral, centrally acting, 5-hydroxytryptamine 2c receptor subtype superagonist, in development for the potential treatment of developmental and epileptic encephalopathies. Longboard is also evaluating LP143, a centrally acting, full cannabinoid type 2 receptor agonist, in development for the potential treatment of neurodegenerative diseases associated with neuroinflammation caused by microglial activation, and LP659, a centrally acting, sphingosine-1-phosphate receptor subtypes 1 and 5 modulator, in development for the potential treatment of central nervous system neuroinflammatory diseases.
This story originally appeared on Fintel.
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