Aaron G.L. Fletcher Sells 60,647 Shares of Lantern Pharma Inc. (NASDAQ:LTRN) Stock

Lantern Pharma Inc. (NASDAQ:LTRN) major shareholder Aaron G.L. Fletcher sold 60,647 shares of Lantern Pharma stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $3.38, for a total value of $204,986.86. Following the completion of the sale, the insider now directly owns 51,860 shares in the company, valued at $175,286.80. This represents a 53.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Aaron G.L. Fletcher also recently made the following trade(s):

• On Friday, June 13th, Aaron G.L. Fletcher sold 40,000 shares of Lantern Pharma stock. The stock was sold at an average price of $3.09, for a total value of $123,600.00.
• On Wednesday, June 11th, Aaron G.L. Fletcher sold 950 shares of Lantern Pharma stock. The stock was sold at an average price of $3.40, for a total value of $3,230.00.
• On Tuesday, June 10th, Aaron G.L. Fletcher sold 16 shares of Lantern Pharma stock. The stock was sold at an average price of $3.40, for a total value of $54.40.
• On Thursday, May 29th, Aaron G.L. Fletcher sold 20,200 shares of Lantern Pharma stock. The stock was sold at an average price of $3.03, for a total value of $61,206.00.
• On Wednesday, May 28th, Aaron G.L. Fletcher sold 15,000 shares of Lantern Pharma stock. The stock was sold at an average price of $2.87, for a total value of $43,050.00.
• On Tuesday, May 27th, Aaron G.L. Fletcher sold 21,037 shares of Lantern Pharma stock. The stock was sold at an average price of $3.05, for a total value of $64,162.85.

Lantern Pharma Stock Down 5.6%

NASDAQ:LTRN opened at $3.05 on Friday. Lantern Pharma Inc. has a 52 week low of $2.55 and a 52 week high of $6.12. The company has a market capitalization of $32.89 million, a P/E ratio of -1.71 and a beta of 1.55. The stock’s fifty day moving average is $3.43 and its two-hundred day moving average is $3.73.

Lantern Pharma (NASDAQ:LTRN) last posted its earnings results on Thursday, May 15th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.07. During the same period in the previous year, the company posted ($0.51) earnings per share. Sell-side analysts anticipate that Lantern Pharma Inc. will post -1.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lantern Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BIOS Capital Management LP purchased a new stake in Lantern Pharma in the fourth quarter valued at $3,853,000. CM Management LLC raised its position in Lantern Pharma by 8.1% in the fourth quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $638,000 after purchasing an additional 15,000 shares during the period. Renaissance Technologies LLC raised its position in Lantern Pharma by 3.9% in the fourth quarter. Renaissance Technologies LLC now owns 87,300 shares of the company’s stock valued at $278,000 after purchasing an additional 3,300 shares during the period. Voss Capital LP purchased a new stake in Lantern Pharma in the fourth quarter valued at $160,000. Finally, Perigon Wealth Management LLC grew its stake in shares of Lantern Pharma by 169.8% in the first quarter. Perigon Wealth Management LLC now owns 39,387 shares of the company’s stock valued at $139,000 after buying an additional 24,787 shares in the last quarter. Hedge funds and other institutional investors own 28.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital assumed coverage on Lantern Pharma in a research report on Wednesday, April 2nd. They set a “buy” rating and a $25.00 price objective on the stock.

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.