Lantern Pharma (NASDAQ:LTRN) Posts Earnings Results, Beats Expectations By $0.06 EPS

Lantern Pharma (NASDAQ:LTRN) issued its quarterly earnings data on Friday. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06, Zacks reports.

Lantern Pharma Stock Up 0.3%

LTRN traded up $0.01 during midday trading on Friday, reaching $3.14. The company had a trading volume of 549,904 shares, compared to its average volume of 285,110. The business has a 50-day moving average of $2.22 and a two-hundred day moving average of $2.92. The company has a market cap of $35.51 million, a P/E ratio of -2.00 and a beta of 2.10. Lantern Pharma has a 1 year low of $1.11 and a 1 year high of $5.74.

Analyst Ratings Changes

LTRN has been the topic of several research reports. Wall Street Zen upgraded Lantern Pharma to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings raised Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Insider Transactions at Lantern Pharma

In other Lantern Pharma news, Director Lee Troy Schalop acquired 48,544 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $2.06 per share, with a total value of $100,000.64. Following the completion of the purchase, the director directly owned 48,544 shares in the company, valued at approximately $100,000.64. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director D Jeffrey Keyser acquired 48,544 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $2.06 per share, with a total value of $100,000.64. Following the purchase, the director owned 94,303 shares of the company’s stock, valued at approximately $194,264.18. This trade represents a 106.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Lantern Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Lantern Pharma by 5.6% during the third quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock valued at $1,671,000 after buying an additional 20,321 shares during the last quarter. Renaissance Technologies LLC raised its position in Lantern Pharma by 10.3% during the fourth quarter. Renaissance Technologies LLC now owns 110,400 shares of the company’s stock valued at $335,000 after purchasing an additional 10,300 shares during the period. Geode Capital Management LLC raised its position in Lantern Pharma by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 96,742 shares of the company’s stock valued at $293,000 after purchasing an additional 4,661 shares during the period. Susquehanna International Group LLP purchased a new stake in Lantern Pharma during the third quarter valued at approximately $170,000. Finally, Two Sigma Investments LP purchased a new stake in Lantern Pharma during the third quarter valued at approximately $70,000. 28.62% of the stock is owned by institutional investors.

About Lantern Pharma

Lantern Pharma, Inc is a clinical-stage oncology company leveraging artificial intelligence (AI) and machine learning to accelerate the discovery and development of targeted cancer therapies. Headquartered in Dallas, Texas, Lantern Pharma’s proprietary RADR® platform integrates large-scale genomic, transcriptomic and chemical data to identify novel drug candidates and predict patient populations most likely to benefit from treatment.

The company’s pipeline focuses on molecules designed to address cancers with high unmet medical need.