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

Lantern Pharma (NASDAQ:LTRN) announced its quarterly earnings results on Friday. The company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.06, Zacks reports.

Lantern Pharma Trading Up 0.3%

NASDAQ LTRN traded up $0.01 during trading on Friday, hitting $3.14. The company had a trading volume of 549,904 shares, compared to its average volume of 285,110. The company’s fifty day moving average is $2.22 and its 200-day moving average is $2.92. Lantern Pharma has a one year low of $1.11 and a one year high of $5.74. The company has a market cap of $35.51 million, a price-to-earnings ratio of -2.17 and a beta of 2.10.

Analyst Ratings Changes

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

Insider Activity

In other news, Director Lee Troy Schalop acquired 48,544 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were acquired 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 in the company, valued at $100,000.64. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director D Jeffrey Keyser bought 48,544 shares of Lantern Pharma stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $2.06 per share, for a total transaction of $100,000.64. Following the acquisition, the director directly owned 94,303 shares in the company, valued at approximately $194,264.18. This trade represents a 106.09% increase in their position. The disclosure for this purchase is available in the SEC filing. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Lantern Pharma

Several hedge funds have recently made changes to their positions in LTRN. XTX Topco Ltd purchased a new position in Lantern Pharma during the second quarter valued at $40,000. Vanguard Group Inc. increased its stake 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 worth $1,671,000 after acquiring an additional 20,321 shares in the last quarter. Two Sigma Investments LP bought a new stake in Lantern Pharma during the third quarter worth about $70,000. Susquehanna International Group LLP bought a new stake in Lantern Pharma during the third quarter worth about $170,000. Finally, Geode Capital Management LLC grew its holdings in Lantern Pharma by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 96,742 shares of the company’s stock worth $293,000 after purchasing an additional 4,661 shares during the period. 28.62% of the stock is currently 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.