Lantern Pharma (NASDAQ:LTRN) Stock Rating Reaffirmed by HC Wainwright

Lantern Pharma (NASDAQ:LTRN)‘s stock had its “neutral” rating reiterated by equities researchers at HC Wainwright in a report released on Thursday, Benzinga reports.

Lantern Pharma Trading Down 6.8 %

LTRN opened at $5.38 on Thursday. The business’s 50 day moving average is $6.71 and its 200-day moving average is $4.80. The stock has a market cap of $57.78 million, a PE ratio of -3.64 and a beta of 1.41. Lantern Pharma has a twelve month low of $2.38 and a twelve month high of $11.99.

Lantern Pharma (NASDAQ:LTRN) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. As a group, analysts forecast that Lantern Pharma will post -2.02 EPS for the current year.

Insider Activity at Lantern Pharma

In related news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $4.85, for a total transaction of $360,340.45. Following the transaction, the insider now owns 62,088 shares in the company, valued at $301,126.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lantern Pharma stock. Meridian Wealth Management LLC purchased a new position in Lantern Pharma Inc. (NASDAQ:LTRN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 16,660 shares of the company’s stock, valued at approximately $57,000. Meridian Wealth Management LLC owned about 0.15% of Lantern Pharma as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 28.62% of the company’s stock.

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.