Lantern Pharma (NASDAQ:LTRN) Posts Quarterly Earnings Results

Lantern Pharma (NASDAQ:LTRN) posted its quarterly earnings results on Wednesday. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.05, FiscalAI reports.

Lantern Pharma Stock Down 0.6%

NASDAQ:LTRN opened at $3.46 on Friday. The stock has a market cap of $37.37 million, a P/E ratio of -1.98 and a beta of 1.52. The business’s 50-day moving average price is $4.04 and its two-hundred day moving average price is $3.88. Lantern Pharma has a twelve month low of $2.55 and a twelve month high of $6.12.

Institutional Investors Weigh In On Lantern Pharma

An institutional investor recently raised its position in Lantern Pharma stock. Vanguard Group Inc. grew its stake in Lantern Pharma Inc. (NASDAQ:LTRN) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,041 shares of the company’s stock after buying an additional 20,321 shares during the period. Vanguard Group Inc. owned approximately 3.56% of Lantern Pharma worth $1,671,000 at the end of the most recent reporting period. 28.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LTRN has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lantern Pharma in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Lantern Pharma from a “hold” rating to a “sell” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.

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.