Lantern Pharma (NASDAQ:LTRN) Shares Down 0.6% – Time to Sell?
by Mitch Edgeman · The Markets DailyShares of Lantern Pharma Inc. (NASDAQ:LTRN – Get Free Report) dropped 0.6% during mid-day trading on Tuesday . The company traded as low as $1.67 and last traded at $1.70. 128,115 shares were traded during trading, a decline of 13% from the average session volume of 147,335 shares. The stock had previously closed at $1.71.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Wall Street Zen cut Lantern Pharma from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.
Read Our Latest Stock Report on Lantern Pharma
Lantern Pharma Stock Down 10.6%
The firm has a market cap of $22.05 million, a P/E ratio of -1.08 and a beta of 2.30. The company’s 50 day simple moving average is $2.48 and its 200-day simple moving average is $2.72.
Lantern Pharma (NASDAQ:LTRN – Get Free Report) last released its earnings results on Friday, August 14th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.19).
Institutional Trading of Lantern Pharma
Several institutional investors and hedge funds have recently made changes to their positions in LTRN. Susquehanna International Group LLP purchased a new stake in shares of Lantern Pharma during the second quarter valued at $59,000. Empery Asset Management LP purchased a new stake in Lantern Pharma in the 2nd quarter valued at about $3,513,930. BlackRock Inc. purchased a new stake in Lantern Pharma in the 2nd quarter valued at about $93,000. Bank of New York Mellon Corp bought a new position in Lantern Pharma in the 2nd quarter worth about $89,000. Finally, Renaissance Technologies LLC grew its stake in 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 acquiring an additional 5,600 shares in the last quarter. 28.62% of the stock is currently owned by institutional investors.
About Lantern Pharma
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.