Lantern Pharma Inc. (NASDAQ:LTRN) Major Shareholder Aaron G.L. Fletcher Sells 60,647 Shares of Stock

Lantern Pharma Inc. (NASDAQ:LTRN) major shareholder Aaron G.L. Fletcher sold 60,647 shares of the company’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $3.38, for a total value of $204,986.86. Following the transaction, the insider now directly owns 51,860 shares in the company, valued at $175,286.80. This represents a 53.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aaron G.L. Fletcher also recently made the following trade(s):

• On Friday, June 13th, Aaron G.L. Fletcher sold 40,000 shares of Lantern Pharma stock. The stock was sold at an average price of $3.09, for a total value of $123,600.00.
• On Wednesday, June 11th, Aaron G.L. Fletcher sold 950 shares of Lantern Pharma stock. The stock was sold at an average price of $3.40, for a total value of $3,230.00.
• On Tuesday, June 10th, Aaron G.L. Fletcher sold 16 shares of Lantern Pharma stock. The stock was sold at an average price of $3.40, for a total value of $54.40.
• On Thursday, May 29th, Aaron G.L. Fletcher sold 20,200 shares of Lantern Pharma stock. The stock was sold at an average price of $3.03, for a total value of $61,206.00.
• On Wednesday, May 28th, Aaron G.L. Fletcher sold 15,000 shares of Lantern Pharma stock. The stock was sold at an average price of $2.87, for a total value of $43,050.00.
• On Tuesday, May 27th, Aaron G.L. Fletcher sold 21,037 shares of Lantern Pharma stock. The stock was sold at an average price of $3.05, for a total value of $64,162.85.

Lantern Pharma Stock Down 5.6%

Shares of NASDAQ:LTRN opened at $3.05 on Friday. Lantern Pharma Inc. has a 52-week low of $2.55 and a 52-week high of $6.12. The stock’s fifty day simple moving average is $3.43 and its 200-day simple moving average is $3.72. The company has a market capitalization of $32.89 million, a P/E ratio of -1.71 and a beta of 1.55.

Lantern Pharma (NASDAQ:LTRN) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.07. During the same period in the previous year, the company earned ($0.51) earnings per share. On average, sell-side analysts anticipate that Lantern Pharma Inc. will post -1.9 earnings per share for the current year.

Institutional Trading of Lantern Pharma

Institutional investors and hedge funds have recently made changes to their positions in the stock. BIOS Capital Management LP purchased a new position in Lantern Pharma during the fourth quarter worth about $3,853,000. Voss Capital LP purchased a new position in Lantern Pharma during the fourth quarter worth about $160,000. Perigon Wealth Management LLC lifted its position in Lantern Pharma by 169.8% during the first quarter. Perigon Wealth Management LLC now owns 39,387 shares of the company’s stock worth $139,000 after buying an additional 24,787 shares during the period. CM Management LLC lifted its position in Lantern Pharma by 8.1% during the fourth quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $638,000 after buying an additional 15,000 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Lantern Pharma during the fourth quarter worth about $32,000. 28.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Lake Street Capital assumed coverage on Lantern Pharma in a research report on Wednesday, April 2nd. They set a “buy” rating and a $25.00 target price on the stock.

About Lantern Pharma

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.