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

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LTRN shares. Weiss Ratings upgraded Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered Lantern Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lantern Pharma currently has a consensus rating of “Sell”.

Lantern Pharma Price Performance

The stock’s fifty day simple moving average is $1.98 and its two-hundred day simple moving average is $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 posted 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).

Hedge Funds Weigh In On Lantern Pharma

A number of large investors have recently bought and sold shares of LTRN. Susquehanna International Group LLP acquired a new position in Lantern Pharma in the second quarter valued at approximately $59,000. Empery Asset Management LP acquired a new stake in shares of Lantern Pharma during the 2nd quarter worth approximately $3,513,930. BlackRock Inc. acquired a new stake in shares of Lantern Pharma during the 2nd quarter worth approximately $93,000. Bank of New York Mellon Corp bought a new stake in shares of Lantern Pharma in the 2nd quarter worth approximately $89,000. Finally, Renaissance Technologies LLC lifted its holdings 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 own 28.62% of the company’s stock.

About Lantern Pharma

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.