Lantern Pharma (NASDAQ:LTRN) Shares Down 4.9% – Here’s Why

Lantern Pharma Inc. (NASDAQ:LTRN) traded down 4.9% on Monday . The company traded as low as $3.62 and last traded at $3.69. 197,530 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 235,778 shares. The stock had previously closed at $3.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings cut Lantern Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Wall Street Zen raised Lantern Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lantern Pharma presently has a consensus rating of “Sell”.

Lantern Pharma Price Performance

The stock has a 50 day moving average price of $2.81 and a two-hundred day moving average price of $2.92. The firm has a market capitalization of $41.73 million, a price-to-earnings ratio of -2.54 and a beta of 2.32.

Lantern Pharma (NASDAQ:LTRN) last released its earnings results on Friday, May 15th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06.

Insiders Place Their Bets

In related news, Director D Jeffrey Keyser bought 48,544 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $2.06 per share, for a total transaction of $100,000.64. Following the completion of the acquisition, the director owned 94,303 shares in the company, valued at approximately $194,264.18. This trade represents a 106.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lee Troy Schalop bought 48,544 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $2.06 per share, with a total value of $100,000.64. Following the completion of the acquisition, the director owned 48,544 shares of the company’s stock, valued at $100,000.64. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Lantern Pharma

A number of institutional investors have recently bought and sold shares of LTRN. Susquehanna International Group LLP purchased a new stake in Lantern Pharma during the 3rd quarter worth about $170,000. CM Management LLC increased its position in shares of Lantern Pharma by 12.5% during the third quarter. CM Management LLC now owns 225,000 shares of the company’s stock worth $979,000 after purchasing an additional 25,000 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Lantern Pharma by 5.6% during the third quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock worth $1,671,000 after purchasing an additional 20,321 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Lantern Pharma during the third quarter worth about $70,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Lantern Pharma during the fourth quarter worth about $47,000. 28.62% of the stock is owned by hedge funds and other institutional investors.

Lantern Pharma Company Profile

Lantern Pharma, Inc is a clinical-stage oncology company leveraging artificial intelligence (AI) and machine learning to accelerate the discovery and development of targeted cancer therapies. Headquartered in Dallas, Texas, Lantern Pharma’s proprietary RADR® platform integrates large-scale genomic, transcriptomic and chemical data to identify novel drug candidates and predict patient populations most likely to benefit from treatment.

The company’s pipeline focuses on molecules designed to address cancers with high unmet medical need.