Hudson Bay Capital Management LP Purchases Shares of 27,097 LB Pharmaceuticals Inc $LBRX

Hudson Bay Capital Management LP purchased a new position in shares of LB Pharmaceuticals Inc (NASDAQ:LBRX) in the third quarter, Holdings Channel.com reports. The firm purchased 27,097 shares of the company’s stock, valued at approximately $428,000.

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

LB Pharmaceuticals Trading Up 0.6%

Shares of NASDAQ LBRX opened at $23.67 on Tuesday. The firm has a 50-day moving average price of $23.28. The firm has a market cap of $598.85 million and a PE ratio of -38.80. LB Pharmaceuticals Inc has a 52-week low of $13.36 and a 52-week high of $27.55.

Analyst Ratings Changes

LBRX has been the subject of several recent analyst reports. Roth Mkm began coverage on shares of LB Pharmaceuticals in a research report on Friday, January 9th. They set a “buy” rating and a $31.00 price objective for the company. Stifel Nicolaus increased their target price 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 reissued a “sell (e)” rating on shares of LB Pharmaceuticals in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, LB Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $33.33.

LB Pharmaceuticals 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.