Lantern Pharma Inc. (NASDAQ:LTRN – Get Rating) – Equities researchers at Zacks Small Cap upped their FY2022 EPS estimates for shares of Lantern Pharma in a note issued to investors on Tuesday, November 8th. Zacks Small Cap analyst J. Vandermosten now expects that the company will post earnings per share of ($1.50) for the year, up from their prior forecast of ($1.83). The consensus estimate for Lantern Pharma’s current full-year earnings is ($1.83) per share. Zacks Small Cap also issued estimates for Lantern Pharma’s FY2023 earnings at ($1.72) EPS.
Separately, EF Hutton Acquisition Co. I initiated coverage on shares of Lantern Pharma in a research note on Tuesday, November 1st. They set a “buy” rating and a $11.00 price objective on the stock.
Lantern Pharma Price Performance
Lantern Pharma (NASDAQ:LTRN – Get Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.11.
Insider Activity at Lantern Pharma
In related news, major shareholder Leslie W. Kreis sold 350,000 shares of Lantern Pharma stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $4.40, for a total value of $1,540,000.00. Following the sale, the insider now owns 71,774 shares of the company’s stock, valued at approximately $315,805.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.00% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Lantern Pharma
A number of institutional investors have recently added to or reduced their stakes in LTRN. CM Management LLC lifted its holdings in Lantern Pharma by 10.9% in the 3rd quarter. CM Management LLC now owns 50,000 shares of the company’s stock valued at $239,000 after purchasing an additional 4,900 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Lantern Pharma by 106.5% in the 2nd quarter. Renaissance Technologies LLC now owns 22,100 shares of the company’s stock valued at $126,000 after purchasing an additional 11,400 shares in the last quarter. State Street Corp lifted its holdings in Lantern Pharma by 8.5% in the 1st quarter. State Street Corp now owns 27,752 shares of the company’s stock valued at $198,000 after purchasing an additional 2,185 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Lantern Pharma by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 169,771 shares of the company’s stock valued at $1,214,000 after purchasing an additional 2,665 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Lantern Pharma by 52.7% in the 1st quarter. JPMorgan Chase & Co. now owns 8,018 shares of the company’s stock valued at $57,000 after purchasing an additional 2,768 shares in the last quarter. Institutional investors and hedge funds own 13.10% of the company’s stock.
About Lantern Pharma
Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its advanced drug candidate is LP-100, which is in phase II clinical trials to treat metastatic, castration-resistant, and prostate cancer.
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