Lantern Pharma’s (LTRN) Neutral Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Lantern Pharma (NASDAQ:LTRN) in a report published on Thursday morning, Benzinga reports.

Lantern Pharma Trading Up 0.7 %

Shares of Lantern Pharma stock opened at $5.50 on Thursday. Lantern Pharma has a 12-month low of $2.38 and a 12-month high of $11.99. The company has a market cap of $59.07 million, a price-to-earnings ratio of -3.72 and a beta of 1.41. The company’s 50-day moving average price is $6.76 and its 200-day moving average price is $4.84.

Lantern Pharma (NASDAQ:LTRN) last announced its earnings results on Monday, March 18th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. On average, sell-side analysts predict that Lantern Pharma will post -2.02 earnings per share for the current year.

Insider Activity at Lantern Pharma

In related news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $4.85, for a total value of $360,340.45. Following the sale, the insider now directly owns 62,088 shares of the company’s stock, valued at $301,126.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lantern Pharma

An institutional investor recently raised its position in Lantern Pharma stock. Pathway Financial Advisors LLC raised its holdings in shares of Lantern Pharma Inc. (NASDAQ:LTRN) by 134.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,771 shares of the company’s stock after acquiring an additional 18,770 shares during the period. Pathway Financial Advisors LLC owned about 0.30% of Lantern Pharma worth $112,000 at the end of the most recent reporting period. 28.62% of the stock is owned by institutional investors.

Lantern Pharma Company Profile

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.