LAVA Therapeutics (NASDAQ:LVTX) Posts Earnings Results, Misses Expectations By $0.04 EPS

LAVA Therapeutics (NASDAQ:LVTX) posted its quarterly earnings results on Thursday. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04), Zacks reports.

LAVA Therapeutics Stock Down 0.6%

Shares of NASDAQ:LVTX traded down $0.01 during trading on Friday, reaching $1.61. The stock had a trading volume of 54,578 shares, compared to its average volume of 482,806. The stock has a fifty day simple moving average of $1.57 and a two-hundred day simple moving average of $1.44. LAVA Therapeutics has a 52 week low of $0.85 and a 52 week high of $2.00. The firm has a market capitalization of $42.35 million, a price-to-earnings ratio of -1.53 and a beta of 0.50.

Insiders Place Their Bets

In other news, major shareholder Gilde Healthcare Cooperatieve sold 1,181,131 shares of LAVA Therapeutics stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $1.47, for a total value of $1,736,262.57. Following the transaction, the insider directly owned 2,947,781 shares in the company, valued at approximately $4,333,238.07. The trade was a 28.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Versant Venture Capital Vi, L. sold 2,370,533 shares of the business’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $1.40, for a total value of $3,318,746.20. The SEC filing for this sale provides additional information. Insiders sold a total of 6,861,226 shares of company stock worth $9,944,164 over the last quarter. 9.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in LAVA Therapeutics stock. Rangeley Capital LLC purchased a new position in shares of LAVA Therapeutics N.V. (NASDAQ:LVTX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 27,073 shares of the company’s stock, valued at approximately $36,000. Rangeley Capital LLC owned about 0.10% of LAVA Therapeutics as of its most recent SEC filing.

Analyst Upgrades and Downgrades

LVTX has been the topic of a number of research reports. HC Wainwright dropped their price target on shares of LAVA Therapeutics from $1.50 to $1.24 and set a “neutral” rating on the stock in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LAVA Therapeutics in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group downgraded LAVA Therapeutics from a “buy” rating to a “hold” rating and cut their price target for the stock from $3.00 to $1.50 in a research note on Tuesday, August 5th. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $2.69.

LAVA Therapeutics Company Profile

LAVA Therapeutics N.V., a clinical-stage immuno-oncology company, focuses on developing cancer treatments. The company through its Gammabody platform, develops a portfolio of novel bispecific antibodies to engage and leverage the potency and precision of gamma delta T cells to elicit an anti-tumor immune response and enhance outcomes for cancer patients.