LAVA Therapeutics (NASDAQ:LVTX) Posts Earnings Results, Misses Estimates By $0.04 EPS

LAVA Therapeutics (NASDAQ:LVTX) released its earnings results on Thursday. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04), Zacks reports.

LAVA Therapeutics Stock Down 0.6%

LAVA Therapeutics stock traded down $0.01 during mid-day trading on Friday, hitting $1.61. 54,578 shares of the company were exchanged, compared to its average volume of 482,806. The company has a market capitalization of $42.35 million, a PE ratio of -1.53 and a beta of 0.50. The business has a fifty day moving average of $1.57 and a 200 day moving average of $1.44. LAVA Therapeutics has a 1-year low of $0.85 and a 1-year high of $2.00.

Insider Activity

In other LAVA Therapeutics news, major shareholder Gilde Healthcare Cooperatieve sold 1,181,131 shares of the company’s stock in a transaction dated Friday, October 17th. The shares were sold at an average price of $1.47, for a total transaction of $1,736,262.57. Following the sale, the insider directly owned 2,947,781 shares of the company’s stock, valued at approximately $4,333,238.07. This represents a 28.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Versant Venture Capital Vi, L. sold 532,870 shares of LAVA Therapeutics stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $1.40, for a total transaction of $746,018.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 6,861,226 shares of company stock worth $9,944,164. 9.50% of the stock is owned by insiders.

Institutional Investors Weigh In On LAVA Therapeutics

An institutional investor recently bought a new position in LAVA Therapeutics stock. Rangeley Capital LLC acquired a new stake in LAVA Therapeutics N.V. (NASDAQ:LVTX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 27,073 shares of the company’s stock, valued at approximately $36,000. Rangeley Capital LLC owned about 0.10% of LAVA Therapeutics as of its most recent filing with the SEC.

Analyst Upgrades and Downgrades

LVTX has been the subject of a number of research reports. Jefferies Financial Group downgraded LAVA Therapeutics from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $3.00 to $1.50 in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LAVA Therapeutics in a research report on Wednesday, October 8th. Finally, HC Wainwright decreased their price target on shares of LAVA Therapeutics from $1.50 to $1.24 and set a “neutral” rating on the stock in a research note on Tuesday, August 5th. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, LAVA Therapeutics currently has a consensus rating of “Reduce” and a consensus target price of $2.69.

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.