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

Shares of Lantern Pharma Inc. (NASDAQ:LTRN) dropped 3.6% during mid-day trading on Wednesday . The stock traded as low as $2.90 and last traded at $2.95. Approximately 50,597 shares were traded 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

A number of research firms recently commented on LTRN. Wall Street Zen upgraded Lantern Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Lantern Pharma in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

Lantern Pharma Stock Down 3.6%

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

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.05. Research analysts forecast that Lantern Pharma Inc. will post -1.9 EPS for the current year.

Institutional Trading of Lantern Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in LTRN. Susquehanna International Group LLP acquired a new position in Lantern Pharma during the third quarter valued at approximately $170,000. CM Management LLC boosted 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. grew its holdings in shares of Lantern Pharma by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock valued at $1,671,000 after buying an additional 20,321 shares during the period. Two Sigma Investments LP bought a new stake in shares of Lantern Pharma in the 3rd quarter valued at $70,000. Finally, XTX Topco Ltd acquired a new stake in Lantern Pharma during the 2nd quarter worth $40,000. 28.62% of the stock is owned by 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.