Short Interest in LAVA Therapeutics (NASDAQ:LVTX) Drops By 28.4%

LAVA Therapeutics (NASDAQ:LVTX) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 137,100 shares, a decrease of 28.4% from the March 15th total of 191,500 shares. Based on an average daily volume of 400,300 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.1% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “neutral” rating and set a $1.50 price objective on shares of LAVA Therapeutics in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.17.

LAVA Therapeutics Stock Performance

Shares of NASDAQ:LVTX opened at $1.31 on Friday. The stock has a 50-day simple moving average of $1.20 and a 200-day simple moving average of $1.32. The stock has a market capitalization of $34.46 million, a P/E ratio of -1.27 and a beta of 0.46. LAVA Therapeutics has a 1 year low of $0.85 and a 1 year high of $3.20.

LAVA Therapeutics (NASDAQ:LVTX) last released its quarterly earnings data on Friday, March 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.18. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $2.40 million. Analysts predict that LAVA Therapeutics will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On LAVA Therapeutics

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new stake in LAVA Therapeutics in the third quarter valued at approximately $32,000. BNP Paribas Financial Markets acquired a new stake in LAVA Therapeutics during the 4th quarter valued at $40,000. Finally, Sanofi purchased a new stake in LAVA Therapeutics during the 4th quarter worth $1,825,000.

LAVA Therapeutics Company Profile

LAVA Therapeutics N.V., a clinical-stage immuno-oncology company, focuses on developing cancer treatments. The company through its Gammabody platform, develops a portfolio of novel bispecific antibodies to engage and leverage the potency and precision of gamma delta T cells to elicit an anti-tumor immune response and enhance outcomes for cancer patients.