Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Sees Significant Drop in Short Interest

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 1,416,118 shares, a decrease of 57.3% from the September 30th total of 3,317,951 shares. Based on an average daily volume of 297,058 shares, the short-interest ratio is presently 4.8 days. Currently, 2.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

Several institutional investors have recently modified their holdings of LKFT. QRG Capital Management Inc. lifted its holdings in Lakefront Biotherapeutics American Depositary Shares by 21.9% during the first quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock worth $591,000 after acquiring an additional 3,535 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 1st quarter valued at $248,000. Finally, ABC Arbitrage SA bought a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 1st quarter worth $382,000. 32.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LKFT. Royal Bank Of Canada upgraded Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $26.00 to $45.00 in a report on Wednesday, September 23rd. UBS Group raised shares of Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research report on Wednesday, September 23rd. Weiss Ratings upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. TD Cowen began coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, August 21st. They issued a “buy” rating on the stock. Finally, Morgan Stanley started coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Tuesday, October 20th. They issued an “equal weight” rating and a $26.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $35.50.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

LKFT traded down $0.05 during mid-day trading on Friday, reaching $32.28. 164,055 shares of the stock were exchanged, compared to its average volume of 195,021. Lakefront Biotherapeutics American Depositary Shares has a 1 year low of $25.68 and a 1 year high of $36.24. The stock has a market capitalization of $2.13 billion, a PE ratio of -22.89 and a beta of 0.24. The company has a 50 day moving average price of $29.41 and a two-hundred day moving average price of $29.98.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last released its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $1.00. The firm had revenue of $15.47 million for the quarter, compared to the consensus estimate of $7.29 million. Sell-side analysts expect that Lakefront Biotherapeutics American Depositary Shares will post -1.26 EPS for the current fiscal year.

Lakefront Biotherapeutics American Depositary Shares Company Profile

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn’s disease, ulcerative colitis, small bowel CD, fistulizing CD, ankylosing spondylitis, psoriatic arthritis, and uveitis. The company’s pipeline products also comprise GLPG1972 that has completed Phase 2b trial for treating osteoarthritis; Toledo molecules, including GLPG3970, GLPG4399, and GLPG4876 for inflammation; and GLPG4716 and Ziritaxestat to treat idiopathic pulmonary fibrosis.