Lantern Pharma (NASDAQ:LTRN) Shares Down 6.4% – Should You Sell?

Lantern Pharma Inc. (NASDAQ:LTRN)’s stock price dropped 6.4% on Monday . The stock traded as low as $3.33 and last traded at $3.37. Approximately 70,650 shares changed hands during trading, an increase of 1% from the average daily volume of 69,995 shares. The stock had previously closed at $3.60.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LTRN. Weiss Ratings restated a “sell (e+)” rating on shares of Lantern Pharma in a research report on Monday, December 8th. Wall Street Zen raised shares of Lantern Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lantern Pharma presently has a consensus rating of “Hold” and an average price target of $25.00.

Lantern Pharma Trading Down 6.4%

The company has a fifty day moving average price of $3.78 and a two-hundred day moving average price of $3.88. The firm has a market cap of $37.68 million, a P/E ratio of -1.93 and a beta of 1.61.

Lantern Pharma (NASDAQ:LTRN) last announced its earnings results on Wednesday, November 12th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. As a group, sell-side analysts expect that Lantern Pharma Inc. will post -1.9 EPS for the current year.

Hedge Funds Weigh In On Lantern Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LTRN. Susquehanna International Group LLP acquired a new stake in shares of Lantern Pharma in the 3rd quarter valued at about $170,000. Two Sigma Investments LP bought a new position in shares of Lantern Pharma during the third quarter worth about $70,000. Vanguard Group Inc. grew its holdings in shares of Lantern Pharma by 5.6% during the third quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock worth $1,671,000 after buying an additional 20,321 shares in the last quarter. XTX Topco Ltd acquired a new stake in Lantern Pharma in the 2nd quarter valued at approximately $40,000. Finally, CM Management LLC lifted its stake in Lantern Pharma by 12.5% in the 3rd quarter. CM Management LLC now owns 225,000 shares of the company’s stock valued at $979,000 after acquiring an additional 25,000 shares in the last quarter. 28.62% of the stock is owned by institutional investors and hedge funds.

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 product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.