Lantern Pharma Inc. (NASDAQ:LTRN) Major Shareholder Aaron G.L. Fletcher Sells 20,200 Shares

Lantern Pharma Inc. (NASDAQ:LTRN) major shareholder Aaron G.L. Fletcher sold 20,200 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $3.03, for a total transaction of $61,206.00. Following the sale, the insider now owns 54,792 shares of the company’s stock, valued at $166,019.76. This trade represents a 26.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aaron G.L. Fletcher also recently made the following trade(s):

• On Wednesday, May 28th, Aaron G.L. Fletcher sold 15,000 shares of Lantern Pharma stock. The shares were sold at an average price of $2.87, for a total transaction of $43,050.00.
• On Tuesday, May 27th, Aaron G.L. Fletcher sold 21,037 shares of Lantern Pharma stock. The stock was sold at an average price of $3.05, for a total transaction of $64,162.85.

Lantern Pharma Stock Performance

Shares of LTRN stock opened at $3.13 on Friday. Lantern Pharma Inc. has a 52 week low of $2.55 and a 52 week high of $6.40. The stock has a market capitalization of $33.76 million, a PE ratio of -1.76 and a beta of 1.63. The stock’s fifty day moving average is $3.44 and its 200-day moving average is $3.72.

Lantern Pharma (NASDAQ:LTRN) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.07. During the same quarter in the prior year, the business posted ($0.51) EPS. As a group, analysts forecast that Lantern Pharma Inc. will post -1.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lantern Pharma

Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its holdings in shares of Lantern Pharma by 3.9% in the fourth quarter. Renaissance Technologies LLC now owns 87,300 shares of the company’s stock valued at $278,000 after purchasing an additional 3,300 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Lantern Pharma in the 4th quarter valued at $32,000. CM Management LLC boosted its position in Lantern Pharma by 8.1% in the 4th quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $638,000 after buying an additional 15,000 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Lantern Pharma by 169.8% in the 1st quarter. Perigon Wealth Management LLC now owns 39,387 shares of the company’s stock valued at $139,000 after buying an additional 24,787 shares during the period. Finally, Voss Capital LP bought a new stake in shares of Lantern Pharma during the fourth quarter worth $160,000. 28.62% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Lake Street Capital initiated coverage on Lantern Pharma in a report on Wednesday, April 2nd. They issued a “buy” rating and a $25.00 target price on the 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.