LAVA Therapeutics (NASDAQ:LVTX) Releases Earnings Results, Misses Estimates By $0.04 EPS

LAVA Therapeutics (NASDAQ:LVTX) issued its earnings results on Thursday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04), Zacks reports.

LAVA Therapeutics Price Performance

Shares of LVTX stock traded down $0.01 on Friday, hitting $1.61. The stock had a trading volume of 54,578 shares, compared to its average volume of 482,806. The business has a 50 day moving average of $1.57 and a 200 day moving average of $1.44. The stock has a market cap of $42.36 million, a price-to-earnings ratio of -1.87 and a beta of 0.50. LAVA Therapeutics has a 12-month low of $0.85 and a 12-month high of $2.00.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LVTX. HC Wainwright lowered their price objective on shares of LAVA Therapeutics from $1.50 to $1.24 and set a “neutral” rating on the stock in a report on Tuesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of LAVA Therapeutics in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group cut shares of LAVA Therapeutics from a “buy” rating to a “hold” rating and dropped their price target for the company from $3.00 to $1.50 in a research report on Tuesday, August 5th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $2.69.

Insider Activity

In other LAVA Therapeutics news, major shareholder Versant Venture Capital Vi, L. sold 2,370,533 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $1.40, for a total value of $3,318,746.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Gilde Healthcare Cooperatieve sold 1,181,131 shares of the stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $1.47, for a total transaction of $1,736,262.57. Following the completion of the sale, the insider owned 2,947,781 shares of the company’s stock, valued at approximately $4,333,238.07. This trade represents a 28.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 6,861,226 shares of company stock worth $9,944,164. 9.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LAVA Therapeutics

An institutional investor recently bought a new position in LAVA Therapeutics stock. Rangeley Capital LLC purchased a new position in LAVA Therapeutics N.V. (NASDAQ:LVTX) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 27,073 shares of the company’s stock, valued at approximately $36,000. Rangeley Capital LLC owned 0.10% of LAVA Therapeutics at the end of the most recent quarter.

LAVA Therapeutics Company Profile

LAVA Therapeutics N.V., a clinical-stage immuno-oncology company, focuses on developing cancer treatments. The company through its Gammabody platform, develops a portfolio of novel bispecific antibodies to engage and leverage the potency and precision of gamma delta T cells to elicit an anti-tumor immune response and enhance outcomes for cancer patients.