Lantern Pharma (NASDAQ:LTRN) Trading 6.2% Higher – Time to Buy?

Lantern Pharma Inc. (NASDAQ:LTRN) traded up 6.2% during trading on Tuesday . The stock traded as high as $3.56 and last traded at $3.45. 62,251 shares changed hands during trading, an increase of 17% from the average session volume of 53,321 shares. The stock had previously closed at $3.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lantern Pharma in a research note on Monday, December 29th. Wall Street Zen raised shares of Lantern Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Lantern Pharma Stock Up 6.2%

The stock has a market capitalization of $38.57 million, a price-to-earnings ratio of -1.97 and a beta of 1.58. The company’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $3.88.

Lantern Pharma (NASDAQ:LTRN) last announced its earnings results on Wednesday, November 12th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.05. As a group, analysts anticipate that Lantern Pharma Inc. will post -1.9 earnings per share for the current year.

Institutional Investors Weigh In On Lantern Pharma

A number of institutional investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in shares of Lantern Pharma in the second quarter valued at approximately $40,000. Two Sigma Investments LP bought a new stake in Lantern Pharma in the 3rd quarter valued at $70,000. Westside Investment Management Inc. grew its holdings in Lantern Pharma by 17.1% in the 2nd 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 in the last quarter. Susquehanna International Group LLP bought a new position in Lantern Pharma during the 3rd quarter worth $170,000. Finally, CM Management LLC increased its position in Lantern Pharma by 12.5% during the 3rd quarter. CM Management LLC now owns 225,000 shares of the company’s stock worth $979,000 after buying an additional 25,000 shares during the period. Institutional investors own 28.62% of the company’s stock.

Lantern Pharma Company Profile

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.