Lantern Pharma (NASDAQ:LTRN) Stock Price Up 1.4% – Here’s What Happened

Shares of Lantern Pharma Inc. (NASDAQ:LTRN) rose 1.4% during trading on Tuesday. The stock traded as high as $1.07 and last traded at $0.9537. 388,637 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 300,320 shares. The stock had previously closed at $0.9401.

Wall Street Analysts Forecast Growth

LTRN has been the topic of several analyst reports. Weiss Ratings raised shares of Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Lantern Pharma from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lantern Pharma currently has a consensus rating of “Sell”.

Lantern Pharma Price Performance

The stock has a market capitalization of $10.61 million, a price-to-earnings ratio of -0.51 and a beta of 2.33. The firm has a 50 day simple moving average of $1.95 and a 200-day simple moving average of $2.57.

Lantern Pharma (NASDAQ:LTRN) last issued its earnings results on Friday, August 14th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.19).

Institutional Trading of Lantern Pharma

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Lantern Pharma by 5.1% in the 1st quarter. Renaissance Technologies LLC now owns 116,000 shares of the company’s stock worth $159,000 after purchasing an additional 5,600 shares during the last quarter. Susquehanna International Group LLP bought a new position in Lantern Pharma in the 2nd quarter valued at $59,000. Bank of New York Mellon Corp bought a new position in Lantern Pharma in the 2nd quarter valued at $89,000. BlackRock Inc. acquired a new stake in shares of Lantern Pharma in the 2nd quarter valued at $93,000. Finally, Empery Asset Management LP acquired a new stake in shares of Lantern Pharma in the 2nd quarter valued at $3,513,930. 28.62% of the stock is owned by institutional investors.

About Lantern Pharma

Lantern Pharma, Inc is a clinical-stage biopharmaceutical company focused on using artificial intelligence, machine learning and genomic data to discover and develop precision cancer therapies. The company’s approach is designed to identify patient populations most likely to respond to a therapy, with the goal of improving drug-development efficiency and treatment outcomes.

Lantern’s technology platform, known as RADR, analyzes large datasets from clinical studies, scientific literature and other sources to support drug discovery, biomarker identification and clinical-trial design.