Lantern Pharma (NASDAQ:LTRN) Trading Down 3.5% – What’s Next?

Shares of Lantern Pharma Inc. (NASDAQ:LTRN) dropped 3.5% during mid-day trading on Wednesday . The company traded as low as $2.51 and last traded at $2.51. 36,465 shares traded hands during trading, a decline of 73% from the average session volume of 136,712 shares. The stock had previously closed at $2.60.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen raised Lantern Pharma from a “sell” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings raised Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lantern Pharma has a consensus rating of “Sell”.

Lantern Pharma Price Performance

The firm’s 50 day moving average is $3.49 and its 200 day moving average is $2.91. The company has a market cap of $33.56 million, a PE ratio of -1.81 and a beta of 2.30.

Lantern Pharma (NASDAQ:LTRN) last posted its earnings results on Friday, May 15th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.06.

Insiders Place Their Bets

In other Lantern Pharma news, Director Lee Troy Schalop acquired 48,544 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $2.06 per share, with a total value of $100,000.64. Following the completion of the purchase, the director owned 48,544 shares of the company’s stock, valued at approximately $100,000.64. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director D Jeffrey Keyser bought 48,544 shares of Lantern Pharma stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $2.06 per share, with a total value of $100,000.64. Following the completion of the transaction, the director owned 94,303 shares of the company’s stock, valued at $194,264.18. This represents a 106.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 8.50% of the company’s stock.

Institutional Trading of Lantern Pharma

A number of large investors have recently modified their holdings of LTRN. XTX Topco Ltd purchased a new position in shares of Lantern Pharma during the second quarter worth about $40,000. Vanguard Group Inc. lifted its position in Lantern Pharma by 5.6% during the third quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock valued at $1,671,000 after purchasing an additional 20,321 shares during the last quarter. Two Sigma Investments LP bought a new stake in Lantern Pharma during the third quarter valued at approximately $70,000. Susquehanna International Group LLP purchased a new position in Lantern Pharma in the 3rd quarter worth approximately $170,000. Finally, Geode Capital Management LLC grew its stake in Lantern Pharma by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 96,742 shares of the company’s stock worth $293,000 after buying an additional 4,661 shares in the last quarter. Institutional investors own 28.62% of the company’s stock.

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.