Lantern Pharma (NASDAQ:LTRN) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reissued their neutral rating on shares of Lantern Pharma (NASDAQ:LTRN) in a research note issued to investors on Thursday morning, Benzinga reports.

Lantern Pharma Price Performance

Shares of NASDAQ:LTRN opened at $5.46 on Thursday. Lantern Pharma has a 1-year low of $2.38 and a 1-year high of $11.99. The business’s 50 day moving average is $6.74 and its 200-day moving average is $4.81.

Lantern Pharma (NASDAQ:LTRN) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. As a group, analysts anticipate that Lantern Pharma will post -2.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $4.85, for a total transaction of $360,340.45. Following the completion of the transaction, the insider now owns 62,088 shares in the company, valued at approximately $301,126.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lantern Pharma

An institutional investor recently raised its position in Lantern Pharma stock. Pathway Financial Advisors LLC raised its holdings in Lantern Pharma Inc. (NASDAQ:LTRN) by 134.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,771 shares of the company’s stock after purchasing an additional 18,770 shares during the quarter. Pathway Financial Advisors LLC owned approximately 0.30% of Lantern Pharma worth $112,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 28.62% of the company’s stock.

Lantern Pharma Company Profile

Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.