Lantern Pharma (NASDAQ:LTRN) Stock Price Down 6.4% – Here’s Why

by · The Cerbat Gem

Lantern Pharma Inc. (NASDAQ:LTRN – Get Free Report)’s share price fell 6.4% during trading on Monday . The stock traded as low as $3.33 and last traded at $3.37. 70,650 shares were traded during mid-day trading, an increase of 1% from the average session volume of 69,995 shares. The stock had previously closed at $3.60.

Wall Street Analyst Weigh In

LTRN has been the subject of a number of recent research reports. Wall Street Zen raised Lantern Pharma from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Lantern Pharma in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

Get Our Latest Stock Analysis on LTRN

Lantern Pharma Price Performance

The company has a market cap of $35.66 million, a P/E ratio of -1.82 and a beta of 1.61. The stock has a 50-day moving average of $3.73 and a 200 day moving average of $3.87.

Lantern Pharma (NASDAQ:LTRN – Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. Sell-side analysts predict that Lantern Pharma Inc. will post -1.9 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new position in Lantern Pharma during the 2nd quarter worth about $40,000. Two Sigma Investments LP bought a new stake in Lantern Pharma in the third quarter valued at approximately $70,000. Westside Investment Management Inc. increased its position in Lantern Pharma by 17.1% during the 2nd quarter. Westside Investment Management Inc. now owns 35,900 shares of the company’s stock valued at $113,000 after purchasing an additional 5,250 shares during the period. Susquehanna International Group LLP bought a new position in Lantern Pharma during the 3rd quarter worth approximately $170,000. Finally, CM Management LLC boosted its stake in shares of Lantern Pharma by 12.5% in the 3rd quarter. CM Management LLC now owns 225,000 shares of the company’s stock valued at $979,000 after purchasing an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 28.62% of the company’s stock.

Lantern Pharma Company Profile

(Get Free Report)

Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.

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