Lantern Pharma (NASDAQ:LTRN) Shares Down 9.2% – What’s Next?

Lantern Pharma Inc. (NASDAQ:LTRN) dropped 9.2% during trading on Tuesday . The stock traded as low as $3.51 and last traded at $3.57. 224,010 shares were traded during mid-day trading, an increase of 47% from the average daily volume of 152,624 shares. The stock had previously closed at $3.93.

Analyst Upgrades and Downgrades

LTRN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Lantern Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded shares of Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Lantern Pharma Trading Down 9.2%

The business has a 50 day moving average of $3.34 and a 200-day moving average of $2.95. The stock has a market cap of $45.55 million, a PE ratio of -2.46 and a beta of 2.30.

Lantern Pharma (NASDAQ:LTRN) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.30) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.06.

Insider Transactions at Lantern Pharma

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

Institutional Trading of Lantern Pharma

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in Lantern Pharma in the 4th quarter worth approximately $37,000. XTX Topco Ltd acquired a new stake in shares of Lantern Pharma during the second quarter worth $40,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Lantern Pharma in the fourth quarter valued at $47,000. Two Sigma Investments LP purchased a new stake in shares of Lantern Pharma in the third quarter valued at $70,000. Finally, Renaissance Technologies LLC increased its stake in Lantern Pharma by 5.1% in the first quarter. Renaissance Technologies LLC now owns 116,000 shares of the company’s stock valued at $159,000 after purchasing an additional 5,600 shares during the last quarter. Institutional investors and hedge funds own 28.62% of the company’s stock.

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.