LB Pharmaceuticals (NASDAQ:LBRX – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($1.71) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.87), FiscalAI reports.
LB Pharmaceuticals Stock Performance
Shares of NASDAQ:LBRX traded down $0.51 during trading on Wednesday, reaching $44.82. 64,055 shares of the stock were exchanged, compared to its average volume of 264,542. The firm’s 50-day moving average price is $33.98 and its 200 day moving average price is $28.95. The firm has a market cap of $1.29 billion and a price-to-earnings ratio of -25.91. LB Pharmaceuticals has a 12-month low of $13.36 and a 12-month high of $49.14.
Institutional Investors Weigh In On LB Pharmaceuticals
Several institutional investors have recently bought and sold shares of the business. Spruce Street Capital LP acquired a new position in shares of LB Pharmaceuticals during the 4th quarter valued at $22,384,000. Jennison Associates LLC increased its holdings in LB Pharmaceuticals by 11.2% in the 4th quarter. Jennison Associates LLC now owns 821,852 shares of the company’s stock valued at $18,294,000 after purchasing an additional 82,812 shares in the last quarter. Stempoint Capital LP purchased a new position in LB Pharmaceuticals in the first quarter valued at about $1,233,000. Janus Henderson Group PLC acquired a new position in shares of LB Pharmaceuticals during the first quarter worth about $1,613,000. Finally, Eversept Partners LP purchased a new stake in shares of LB Pharmaceuticals in the first quarter worth about $2,471,000.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on LBRX
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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