Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Longboard Pharmaceuticals Inc shares valued at $96,479,595 were sold by ARENA PHARMACEUTICALS INC on Jan 25 ’24. At $24.25 per share, ARENA PHARMACEUTICALS INC sold 3,978,540 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
As published in their initiating research note from Citigroup on February 16, 2024, Longboard Pharmaceuticals Inc [LBPH] has been a Buy and the price target has been revised to $40. As of April 27, 2023, B. Riley Securities has initiated its “Buy” rating for LBPH. Earlier on April 07, 2021, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for LBPH stock.
Analyzing LBPH Stock Performance
During the last five days, there has been a surge of approximately 10.60%. Over the course of the year, Longboard Pharmaceuticals Inc shares have jumped approximately 239.14%. Shares of the company reached a 52-week high of $28.15 on 01/23/24 and a 52-week low of $16.20 on 01/02/24. A 50-day SMA is recorded $20.38, while a 200-day SMA reached $11.26. Nevertheless, trading volume fell to 0.59 million shares from 0.18 million shares the previous day.
Support And Resistance Levels for Longboard Pharmaceuticals Inc (LBPH)
According to the 24-hour chart, there is a support level at 18.75, which, if violated, would cause prices to drop to 17.05. In the upper region, resistance lies at 21.52. The next price resistance is at 22.59. RSI (Relative Strength Index) is 53.94 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.42, which suggests the price will decrease in the coming days. Percent R is at 35.45%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Longboard Pharmaceuticals Inc subject to short interest?
Stocks of Longboard Pharmaceuticals Inc saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.56 million shares to 3.74 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 3.18 million shares. A jump of 14.97% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 5.14 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.14.
