300,000 Shares in LB Pharmaceuticals Inc $LBRX Acquired by Nan Fung Group Holdings Ltd

Key Points

• Nan Fung Group bought 300,000 shares of LB Pharmaceuticals (NASDAQ:LBRX) in Q3—about $4.74 million—making LBRX roughly 7.9% of its portfolio and leaving Nan Fung with about a 1.19% ownership stake.
• Several other institutions also initiated or increased positions in Q3, led by JPMorgan Chase ($16.3 million), indicating rising institutional interest in the stock.
• Analyst coverage is mixed but tilted positive: MarketBeat shows a consensus of "Moderate Buy" with an average price target of $33.33, while individual targets range from Weiss Ratings' sell to Stifel's $35 buy rating.

Nan Fung Group Holdings Ltd purchased a new stake in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 300,000 shares of the company's stock, valued at approximately $4,737,000. LB Pharmaceuticals makes up approximately 7.9% of Nan Fung Group Holdings Ltd's investment portfolio, making the stock its 6th biggest position. Nan Fung Group Holdings Ltd owned about 1.19% of LB Pharmaceuticals as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new stake in shares of LB Pharmaceuticals in the third quarter valued at $16,305,000. Monashee Investment Management LLC bought a new position in LB Pharmaceuticals during the third quarter valued at about $632,000. TD Asset Management Inc acquired a new position in LB Pharmaceuticals during the third quarter worth about $581,000. Jefferies Financial Group Inc. bought a new stake in LB Pharmaceuticals in the third quarter worth about $207,000. Finally, Landscape Capital Management L.L.C. bought a new stake in LB Pharmaceuticals in the third quarter worth about $168,000.

LB Pharmaceuticals Price Performance

Shares of LBRX opened at $25.67 on Friday. The business has a 50-day moving average of $22.80. The stock has a market cap of $649.45 million and a PE ratio of -42.08. LB Pharmaceuticals Inc has a 1-year low of $13.36 and a 1-year high of $26.65.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of LB Pharmaceuticals from $27.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, December 11th. Weiss Ratings reissued a "sell (e)" rating on shares of LB Pharmaceuticals in a research note on Monday, December 29th. Finally, Roth Mkm began coverage on shares of LB Pharmaceuticals in a report on Friday, January 9th. They set a "buy" rating and a $31.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $33.33.

LB Pharmaceuticals Company Profile

We are a clinical-stage biopharmaceutical company developing novel therapies for the treatment of schizophrenia, bipolar depression, and other neuropsychiatric diseases. We are building a pipeline that leverages the broad therapeutic potential of our lead product candidate, LB-102, which we believe has the potential to be the first benzamide antipsychotic drug approved for neuropsychiatric disorders in the United States. LB-102 is a new chemical entity and a methylated derivative of amisulpride, a second-generation antipsychotic drug approved in over 50 countries, not including the United States, because the development and regulatory requirements of the U.S.

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