Lantern Pharma (NASDAQ:LTRN) Shares Down 0.6% – What’s Next?

Shares of Lantern Pharma Inc. (NASDAQ:LTRN) were down 0.6% during trading on Tuesday . The stock traded as low as $1.67 and last traded at $1.70. Approximately 128,115 shares traded hands during trading, a decline of 13% from the average session volume of 147,335 shares. The stock had previously closed at $1.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Lantern Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Lantern Pharma Stock Performance

The firm has a 50-day moving average of $2.51 and a 200-day moving average of $2.73. The firm has a market capitalization of $21.73 million, a P/E ratio of -1.05 and a beta of 2.30.

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

Institutional Investors Weigh In On Lantern Pharma

A number of large investors have recently added to or reduced their stakes in the company. Empery Asset Management LP bought a new position in shares of Lantern Pharma during the second quarter valued at about $3,513,930. Renaissance Technologies LLC boosted its holdings in shares of Lantern Pharma by 5.1% during the first 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 period. BlackRock Inc. bought a new stake in shares of Lantern Pharma in the second quarter worth about $93,000. Bank of New York Mellon Corp bought a new stake in shares of Lantern Pharma in the second quarter worth about $89,000. Finally, Susquehanna International Group LLP purchased a new position in Lantern Pharma during the 2nd quarter valued at about $59,000. Institutional investors own 28.62% of the company’s stock.

Lantern Pharma Company Profile

Lantern Pharma, Inc is a clinical-stage oncology company leveraging artificial intelligence (AI) and machine learning to accelerate the discovery and development of targeted cancer therapies. Headquartered in Dallas, Texas, Lantern Pharma’s proprietary RADR® platform integrates large-scale genomic, transcriptomic and chemical data to identify novel drug candidates and predict patient populations most likely to benefit from treatment.

The company’s pipeline focuses on molecules designed to address cancers with high unmet medical need.