Boxer Capital Management LLC Acquires Shares of 70,000 LB Pharmaceuticals Inc $LBRX

Key Points

• Boxer Capital Management LLC bought a new position of 70,000 shares of LB Pharmaceuticals (NASDAQ:LBRX) in Q3, valued at about $1.105 million and representing roughly 0.28% of the company.
• Multiple institutions also initiated or added to stakes—most notably JPMorgan Chase (~$16.3 million)—signaling increased institutional interest in LBRX.
• Analysts' consensus is a Moderate Buy with an average price target of $33.33, while the stock trades near $25.67 (market cap ≈ $649M) and the company remains unprofitable (negative P/E).

Boxer Capital Management LLC acquired a new position in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 70,000 shares of the company's stock, valued at approximately $1,105,000. Boxer Capital Management LLC owned approximately 0.28% of LB Pharmaceuticals as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in LBRX. Federated Hermes Inc. purchased a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at $142,000. JPMorgan Chase & Co. purchased a new position in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $16,305,000. TD Asset Management Inc acquired a new position in LB Pharmaceuticals in the 3rd quarter valued at $581,000. Monashee Investment Management LLC purchased a new position in LB Pharmaceuticals during the third quarter worth about $632,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of LB Pharmaceuticals in the 3rd quarter valued at approximately $207,000.

Wall Street Analyst Weigh In

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

LB Pharmaceuticals Trading Up 2.9%

Shares of LB Pharmaceuticals stock opened at $25.67 on Friday. The firm has a 50-day moving average of $22.80. LB Pharmaceuticals Inc has a 1 year low of $13.36 and a 1 year high of $26.65. The firm has a market cap of $649.43 million and a price-to-earnings ratio of -42.08.

About LB Pharmaceuticals

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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