Lantern Pharma (NASDAQ:LTRN) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Lantern Pharma (NASDAQ:LTRN) from a sell rating to a hold rating in a research note published on Saturday.

Separately, Weiss Ratings reaffirmed 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lantern Pharma has a consensus rating of “Hold” and a consensus target price of $25.00.

Lantern Pharma Stock Performance

Lantern Pharma stock traded down $0.08 during midday trading on Friday, reaching $3.38. The stock had a trading volume of 34,221 shares, compared to its average volume of 116,364. The firm’s fifty day simple moving average is $4.02 and its 200-day simple moving average is $3.88. Lantern Pharma has a 1-year low of $2.55 and a 1-year high of $6.12. The stock has a market capitalization of $37.79 million, a P/E ratio of -1.93 and a beta of 1.52.

Lantern Pharma (NASDAQ:LTRN) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05. On average, sell-side analysts anticipate that Lantern Pharma will post -1.9 earnings per share for the current fiscal year.

Institutional Trading of Lantern Pharma

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Lantern Pharma by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock valued at $1,671,000 after acquiring an additional 20,321 shares during the period. Two Sigma Investments LP bought a new stake in shares of Lantern Pharma in the 3rd quarter valued at about $70,000. XTX Topco Ltd acquired a new stake in Lantern Pharma in the 2nd quarter valued at about $40,000. CM Management LLC grew its holdings in Lantern Pharma by 12.5% during the third quarter. CM Management LLC now owns 225,000 shares of the company’s stock worth $979,000 after purchasing an additional 25,000 shares during the period. Finally, Westside Investment Management Inc. raised its stake in Lantern Pharma by 17.1% in the second quarter. Westside Investment Management Inc. now owns 35,900 shares of the company’s stock valued at $113,000 after buying an additional 5,250 shares during the period. Institutional investors and hedge funds own 28.62% of the company’s 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.