Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Announces Quarterly Earnings Results

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) announced its quarterly earnings results on Monday. The biotechnology company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.97) by $1.01, FiscalAI reports. The firm had revenue of $15.47 million during the quarter, compared to analyst estimates of $7.29 million.

Lakefront Biotherapeutics American Depositary Shares Trading Down 0.3%

Shares of NASDAQ LKFT traded down $0.09 during midday trading on Monday, reaching $26.91. The company’s stock had a trading volume of 158,430 shares, compared to its average volume of 158,909. Lakefront Biotherapeutics American Depositary Shares has a one year low of $25.68 and a one year high of $37.78. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -19.09 and a beta of 0.27. The company has a 50 day moving average price of $28.67 and a 200 day moving average price of $30.16.

Analyst Ratings Changes

A number of brokerages recently weighed in on LKFT. Wall Street Zen cut shares of Lakefront Biotherapeutics American Depositary Shares from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Zacks Research upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Morgan Stanley began coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, July 10th. They set an “equal weight” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.33.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Aquatic Capital Management LLC lifted its position in shares of Lakefront Biotherapeutics American Depositary Shares by 63.6% during the 3rd quarter. Aquatic Capital Management LLC now owns 17,516 shares of the biotechnology company’s stock valued at $607,000 after acquiring an additional 6,807 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Lakefront Biotherapeutics American Depositary Shares by 81.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,854 shares of the biotechnology company’s stock worth $411,000 after acquiring an additional 5,305 shares during the last quarter. Orion Porfolio Solutions LLC acquired a new position in shares of Lakefront Biotherapeutics American Depositary Shares in the 3rd quarter worth $252,000. Headlands Technologies LLC acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the second quarter worth $223,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the second quarter worth $560,000. Institutional investors and hedge funds own 32.46% of the company’s stock.

About Lakefront Biotherapeutics American Depositary Shares

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.