Lantern Pharma Inc. (NASDAQ:LTRN) Major Shareholder Leslie W. Kreis Sells 20,200 Shares

Lantern Pharma Inc. (NASDAQ:LTRN) major shareholder Leslie W. Kreis sold 20,200 shares of Lantern Pharma stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $3.03, for a total transaction of $61,206.00. Following the transaction, the insider now owns 54,792 shares of the company’s stock, valued at approximately $166,019.76. The trade was a 26.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Lantern Pharma Stock Performance

Shares of NASDAQ:LTRN opened at $3.13 on Friday. The business’s fifty day moving average price is $3.44 and its two-hundred day moving average price is $3.72. The stock has a market cap of $33.76 million, a PE ratio of -1.76 and a beta of 1.63. Lantern Pharma Inc. has a one year low of $2.55 and a one year high of $6.40.

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings data on Thursday, May 15th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.07. During the same period last year, the business posted ($0.51) EPS. As a group, equities research analysts predict that Lantern Pharma Inc. will post -1.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital started coverage on shares of Lantern Pharma in a research note on Wednesday, April 2nd. They set a “buy” rating and a $25.00 price objective for the company.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new stake in shares of Lantern Pharma during the 4th quarter worth about $32,000. CM Management LLC lifted its stake in shares of Lantern Pharma by 8.1% during the fourth quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $638,000 after buying an additional 15,000 shares during the period. BIOS Capital Management LP acquired a new stake in Lantern Pharma during the fourth quarter worth approximately $3,853,000. Renaissance Technologies LLC boosted its position in Lantern Pharma by 3.9% during the fourth quarter. Renaissance Technologies LLC now owns 87,300 shares of the company’s stock worth $278,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Voss Capital LP purchased a new stake in Lantern Pharma in the 4th quarter worth approximately $160,000. 28.62% of the stock is currently owned by hedge funds and other institutional investors.

About Lantern Pharma

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.