Lantern Pharma (NASDAQ:LTRN) Shares Down 3.6% – What’s Next?

Lantern Pharma Inc. (NASDAQ:LTRN)’s stock price was down 3.6% on Wednesday . The stock traded as low as $2.90 and last traded at $2.95. Approximately 50,597 shares changed hands during trading, an increase of 2% from the average daily volume of 49,618 shares. The stock had previously closed at $3.06.

Wall Street Analysts Forecast Growth

LTRN has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lantern Pharma in a report on Monday, December 29th. Wall Street Zen raised shares of Lantern Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.00.

Lantern Pharma Price Performance

The firm’s fifty day moving average is $3.41 and its 200 day moving average is $3.86. The firm has a market capitalization of $32.98 million, a price-to-earnings ratio of -1.69 and a beta of 1.55.

Lantern Pharma (NASDAQ:LTRN) last issued its earnings results on Wednesday, November 12th. The company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.05. Equities research analysts forecast that Lantern Pharma Inc. will post -1.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Lantern Pharma

A number of institutional investors have recently modified their holdings of LTRN. XTX Topco Ltd bought a new position in shares of Lantern Pharma during the 2nd quarter worth approximately $40,000. Two Sigma Investments LP bought a new position in shares of Lantern Pharma during the third quarter valued at $70,000. Westside Investment Management Inc. lifted its holdings in shares of Lantern Pharma by 17.1% during the second quarter. Westside Investment Management Inc. now owns 35,900 shares of the company’s stock valued at $113,000 after acquiring an additional 5,250 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of Lantern Pharma in the 3rd quarter valued at $170,000. Finally, CM Management LLC grew its holdings 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 worth $979,000 after purchasing an additional 25,000 shares during the last quarter. Institutional investors own 28.62% of the company’s stock.

About Lantern Pharma

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.