Lantern Pharma (NASDAQ:LTRN) Shares Up 13.3% – Time to Buy?

by · The Markets Daily

Lantern Pharma Inc. (NASDAQ:LTRN – Get Free Report) shares shot up 13.3% on Friday . The stock traded as high as $3.87 and last traded at $3.74. 71,305 shares changed hands during mid-day trading, an increase of 43% from the average session volume of 50,003 shares. The stock had previously closed at $3.30.

Lantern Pharma Stock Up 13.3 %

The firm has a market cap of $40.34 million, a price-to-earnings ratio of -2.10 and a beta of 1.56. The firm has a fifty day moving average price of $3.37 and a 200-day moving average price of $3.79.

Institutional Trading of Lantern Pharma

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of Lantern Pharma by 55.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,413 shares of the company’s stock valued at $86,000 after acquiring an additional 6,585 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Lantern Pharma by 24.5% in the second quarter. Renaissance Technologies LLC now owns 81,800 shares of the company’s stock valued at $382,000 after purchasing an additional 16,100 shares during the period. Finally, Westside Investment Management Inc. increased its position in Lantern Pharma by 166.5% during the third quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock worth $112,000 after purchasing an additional 19,150 shares during the last quarter. 28.62% of the stock is owned by institutional investors and hedge funds.

Lantern Pharma Company Profile

(Get Free Report)

Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.

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