Lantern Pharma (NASDAQ:LTRN) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Lantern Pharma (NASDAQ:LTRN) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lantern Pharma in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.00.

Lantern Pharma Price Performance

Shares of NASDAQ LTRN opened at $3.82 on Friday. Lantern Pharma has a fifty-two week low of $2.55 and a fifty-two week high of $6.12. The stock has a market capitalization of $41.26 million, a price-to-earnings ratio of -2.15 and a beta of 1.52. The business has a 50-day moving average of $4.15 and a 200-day moving average of $3.88.

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings results on Wednesday, August 13th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.13. On average, sell-side analysts expect that Lantern Pharma will post -1.9 EPS for the current year.

Hedge Funds Weigh In On Lantern Pharma

A hedge fund recently bought a new stake in Lantern Pharma stock. XTX Topco Ltd acquired a new stake in shares of Lantern Pharma Inc. (NASDAQ:LTRN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,624 shares of the company’s stock, valued at approximately $40,000. XTX Topco Ltd owned 0.12% of Lantern Pharma at the end of the most recent quarter. Institutional investors and hedge funds own 28.62% 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 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.