Lantern Pharma (NASDAQ:LTRN) Shares Climb 1.4% – Still a Buy?

Lantern Pharma Inc. (NASDAQ:LTRN)’s share price traded up 1.4% during trading on Tuesday. The stock traded as high as $1.07 and last traded at $0.9537. Approximately 388,637 shares were traded during trading, an increase of 29% from the average session volume of 300,320 shares. The stock had previously closed at $0.9401.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen cut Lantern Pharma from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lantern Pharma presently has an average rating of “Sell”.

Lantern Pharma Stock Up 1.4%

The firm has a 50 day moving average price of $1.98 and a two-hundred day moving average price of $2.58. The company has a market capitalization of $12.19 million, a price-to-earnings ratio of -0.59 and a beta of 2.33.

Lantern Pharma (NASDAQ:LTRN) last released its quarterly earnings results on Friday, August 14th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.19).

Institutional Trading of Lantern Pharma

A number of hedge funds have recently made changes to their positions in LTRN. Empery Asset Management LP acquired a new stake in Lantern Pharma in the second quarter valued at $3,513,930. Susquehanna International Group LLP acquired a new position in Lantern Pharma during the 2nd quarter worth $59,000. BlackRock Inc. acquired a new position in Lantern Pharma during the 2nd quarter worth $93,000. Bank of New York Mellon Corp bought a new stake in shares of Lantern Pharma in the 2nd quarter worth about $89,000. Finally, Renaissance Technologies LLC increased its position in shares of Lantern Pharma by 5.1% in the 1st quarter. Renaissance Technologies LLC now owns 116,000 shares of the company’s stock worth $159,000 after purchasing an additional 5,600 shares during the last quarter. Institutional investors and hedge funds own 28.62% of the company’s stock.

Lantern Pharma Company Profile

Lantern Pharma, Inc is a clinical-stage biopharmaceutical company focused on developing precision cancer therapies. The company uses artificial intelligence and machine learning to analyze large datasets, identify biomarkers associated with treatment response, and guide the development or repurposing of oncology drug candidates.

Lantern’s technology platform, known as RADR, is designed to support drug discovery, patient selection and clinical development by integrating genomic, clinical and drug-response data.