Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Shares Shorted: Short Interest Down 57.3% in October

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) was the target of a large decrease in short interest during 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. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 297,058 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LKFT shares. UBS Group raised shares of Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a research note on Wednesday, September 23rd. Morgan Stanley initiated coverage on Lakefront Biotherapeutics American Depositary Shares in a research note on Tuesday, October 20th. They issued an “equal weight” rating and a $26.00 price target for the company. 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 company from $26.00 to $45.00 in a research note on Wednesday, September 23rd. TD Cowen assumed coverage on Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They set a “buy” rating on the stock. Finally, Weiss Ratings upgraded Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.50.

Lakefront Biotherapeutics American Depositary Shares Trading Down 0.2%

NASDAQ:LKFT traded down $0.05 during mid-day trading on Friday, hitting $32.28. 164,055 shares of the company’s stock were exchanged, compared to its average volume of 269,508. The company has a 50 day simple moving average of $29.49 and a 200-day simple moving average of $29.97. Lakefront Biotherapeutics American Depositary Shares has a fifty-two week low of $25.68 and a fifty-two week high of $36.24. The firm has a market capitalization of $2.13 billion, a P/E ratio of -22.89 and a beta of 0.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. QRG Capital Management Inc. boosted its stake 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 in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Lakefront Biotherapeutics American Depositary Shares in the first quarter worth $248,000. Finally, ABC Arbitrage SA bought a new stake in Lakefront Biotherapeutics American Depositary Shares in the first quarter valued at $382,000. 32.46% of the stock is owned by institutional investors and hedge funds.

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.