Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Short Interest Report for October

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 1,416,118 shares, a decline of 57.3% from the September 30th total of 3,317,951 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average trading volume of 297,058 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Trading of Lakefront Biotherapeutics American Depositary Shares

Several institutional investors have recently bought and sold shares of the business. ABC Arbitrage SA purchased a new position in shares of Lakefront Biotherapeutics American Depositary Shares in the 1st quarter valued at approximately $382,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Lakefront Biotherapeutics American Depositary Shares during the 1st quarter valued at about $248,000. Finally, QRG Capital Management Inc. increased its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 21.9% during the 1st quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company’s stock worth $591,000 after purchasing an additional 3,535 shares during the last quarter. 32.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LKFT has been the subject of several research analyst reports. UBS Group upgraded Lakefront Biotherapeutics American Depositary Shares to a “buy” rating in a report on Wednesday, September 23rd. TD Cowen started coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research note on Friday, August 21st. They issued a “buy” rating for the company. Weiss Ratings raised Lakefront Biotherapeutics American Depositary Shares from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Royal Bank Of Canada raised shares of Lakefront Biotherapeutics American Depositary Shares from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $26.00 to $45.00 in a report on Wednesday, September 23rd. Finally, Morgan Stanley assumed coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Tuesday, October 20th. They issued an “equal weight” rating and a $26.00 target price on the stock. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.50.

Lakefront Biotherapeutics American Depositary Shares Stock Performance

Lakefront Biotherapeutics American Depositary Shares stock opened at $32.28 on Friday. The company has a market capitalization of $2.13 billion, a PE ratio of -22.89 and a beta of 0.24. Lakefront Biotherapeutics American Depositary Shares has a fifty-two week low of $25.68 and a fifty-two week high of $36.24. The firm has a 50 day moving average price of $29.49 and a 200 day moving average price of $29.97.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) last posted its quarterly earnings data on Monday, August 10th. The biotechnology company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.97) by $1.00. The business had revenue of $15.47 million for the quarter, compared to the consensus estimate of $7.29 million. As a group, equities research analysts forecast that Lakefront Biotherapeutics American Depositary Shares will post -1.26 earnings per share for the current year.

About Lakefront Biotherapeutics American Depositary Shares

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn’s disease, ulcerative colitis, small bowel CD, fistulizing CD, ankylosing spondylitis, psoriatic arthritis, and uveitis. The company’s pipeline products also comprise GLPG1972 that has completed Phase 2b trial for treating osteoarthritis; Toledo molecules, including GLPG3970, GLPG4399, and GLPG4876 for inflammation; and GLPG4716 and Ziritaxestat to treat idiopathic pulmonary fibrosis.