Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Sees Large Volume Increase – Here’s Why

Shares of Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) saw unusually-high trading volume on Tuesday . 504,555 shares changed hands during mid-day trading, an increase of 195% from the previous session’s volume of 171,004 shares.The stock last traded at $27.00 and had previously closed at $26.71.

Analyst Upgrades and Downgrades

LKFT has been the topic of several recent analyst reports. TD Cowen initiated coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research report on Friday, August 21st. They set a “buy” rating on the stock. Weiss Ratings raised Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 27th. Zacks Research raised Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Morgan Stanley dropped their price target on Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 11th. Finally, Royal Bank Of Canada cut their price objective on Lakefront Biotherapeutics American Depositary Shares from $28.00 to $26.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lakefront Biotherapeutics American Depositary Shares currently has an average rating of “Hold” and a consensus price target of $30.67.

Lakefront Biotherapeutics American Depositary Shares Stock Up 4.6%

The firm has a 50 day moving average of $28.39 and a 200 day moving average of $29.10. The firm has a market cap of $1.84 billion, a PE ratio of -19.81 and a beta of 0.28.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last posted its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.97) by $1.01. The firm had revenue of $15.47 million for the quarter, compared to the consensus estimate of $7.29 million. On average, research analysts anticipate that Lakefront Biotherapeutics American Depositary Shares will post -1.27 EPS for the current year.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

Several large investors have recently modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Lakefront Biotherapeutics American Depositary Shares in the first quarter worth about $248,000. ABC Arbitrage SA bought a new position in Lakefront Biotherapeutics American Depositary Shares in the 1st quarter worth approximately $382,000. QRG Capital Management Inc. grew its stake in Lakefront Biotherapeutics American Depositary Shares by 21.9% in the 1st quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock valued at $591,000 after buying an additional 3,535 shares in the last quarter. Finally, Madison Avenue Partners LP raised its holdings in Lakefront Biotherapeutics American Depositary Shares by 0.8% during the 4th quarter. Madison Avenue Partners LP now owns 2,213,169 shares of the biotechnology company’s stock valued at $72,371,000 after acquiring an additional 17,394 shares during the period. Hedge funds and other institutional investors own 32.46% of the company’s stock.

About Lakefront Biotherapeutics American Depositary Shares

Galapagos NV, a biotechnology company, develops medicines focusing on oncology and immunology primarily in the United States and Europe. The company's pipeline products comprise GLPG3667 that has completed phase 1b trial; GLPG5101, a CD19 CAR-T product candidate manufactured at point-of-care, currently in Phase1/2 trial in relapsed/refractory non-hodgkin lymphoma; GLPG5201, a CD19 CAR-T product candidates manufactured at point-of-care, currently in phase 1/2 trial in replapsed/refractory chronic lymphocytic leukemia; and GLPG5301, a BCMA CAR-T product candidate manufactured at point-of-care, currently in phase 1/2 in relapsed/refractory multiple myeloma.