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

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

Analysts Set New Price Targets

A number of research firms have recently commented on LTRN. Weiss Ratings cut Lantern Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Wall Street Zen upgraded Lantern Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Lantern Pharma Stock Performance

The stock has a market cap of $41.73 million, a price-to-earnings ratio of -2.54 and a beta of 2.32. The company has a 50-day moving average of $2.81 and a 200-day moving average of $2.92.

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

Insider Activity

In related news, Director D Jeffrey Keyser purchased 48,544 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $2.06 per share, for a total transaction of $100,000.64. Following the transaction, the director directly owned 94,303 shares of the company’s stock, valued at approximately $194,264.18. The trade was a 106.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lee Troy Schalop purchased 48,544 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $2.06 per share, for a total transaction of $100,000.64. Following the transaction, the director directly owned 48,544 shares in the company, valued at $100,000.64. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Lantern Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in Lantern Pharma by 5.1% in the first quarter. Renaissance Technologies LLC now owns 116,000 shares of the company’s stock worth $159,000 after acquiring an additional 5,600 shares in the last quarter. Cetera Investment Advisers acquired a new stake in Lantern Pharma in the fourth quarter valued at $37,000. CIBC Private Wealth Group LLC acquired a new stake in Lantern Pharma in the fourth quarter valued at $47,000. Geode Capital Management LLC lifted its holdings in Lantern Pharma by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 96,742 shares of the company’s stock valued at $293,000 after acquiring an additional 4,661 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in Lantern Pharma in the third quarter valued at $170,000. Institutional investors and hedge funds own 28.62% of the company’s stock.

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.