Lantern Pharma (NASDAQ:LTRN) Stock Price Up 0.9%

Lantern Pharma Inc. (NASDAQ:LTRNGet Rating) rose 0.9% on Monday . The stock traded as high as $5.51 and last traded at $5.48. Approximately 4,274 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 58,889 shares. The stock had previously closed at $5.43.

Analyst Upgrades and Downgrades

Separately, EF Hutton Acquisition Co. I initiated coverage on Lantern Pharma in a research report on Tuesday, November 1st. They issued a “buy” rating and a $11.00 target price on the stock.

Lantern Pharma Stock Up 0.9 %

The firm has a market cap of $59.50 million, a PE ratio of -4.18 and a beta of 0.67. The firm has a 50-day moving average price of $5.32 and a two-hundred day moving average price of $5.23.

Lantern Pharma (NASDAQ:LTRNGet Rating) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.33. Research analysts forecast that Lantern Pharma Inc. will post -1.5 earnings per share for the current fiscal year.

Insider Activity at Lantern Pharma

In related news, major shareholder Leslie W. Kreis sold 350,000 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $4.40, for a total value of $1,540,000.00. Following the completion of the sale, the insider now owns 71,774 shares of the company’s stock, valued at $315,805.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 23.00% of the company’s stock.

Institutional Investors Weigh In On Lantern Pharma

Several hedge funds and other institutional investors have recently made changes to their positions in LTRN. Renaissance Technologies LLC raised its position in Lantern Pharma by 106.5% in the second 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 during the period. CM Management LLC increased its position in shares of Lantern Pharma by 33.6% during the 2nd quarter. CM Management LLC now owns 45,100 shares of the company’s stock worth $258,000 after purchasing an additional 11,335 shares during the last quarter. JPMorgan Chase & Co. raised 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 buying an additional 2,768 shares during the period. NewEdge Advisors LLC lifted its position in Lantern Pharma by 1.6% in the first quarter. NewEdge Advisors LLC now owns 169,771 shares of the company’s stock valued at $1,214,000 after buying an additional 2,665 shares during the last quarter. Finally, State Street Corp lifted its position in Lantern Pharma by 8.5% in the first quarter. State Street Corp now owns 27,752 shares of the company’s stock valued at $198,000 after buying an additional 2,185 shares during the last quarter. Institutional investors and hedge funds own 21.63% of the company’s stock.

About Lantern Pharma

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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.

Further Reading

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