Lantern Pharma Inc. (NASDAQ:LTRN) Major Shareholder Leslie W. Kreis Sells 60,647 Shares

Lantern Pharma Inc. (NASDAQ:LTRN) major shareholder Leslie W. Kreis sold 60,647 shares of the company’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $3.38, for a total value of $204,986.86. Following the transaction, the insider now directly owns 51,860 shares in the company, valued at $175,286.80. This represents a 53.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Lantern Pharma Price Performance

Shares of NASDAQ LTRN opened at $3.05 on Friday. Lantern Pharma Inc. has a one year low of $2.55 and a one year high of $6.12. The business’s fifty day moving average price is $3.43 and its 200-day moving average price is $3.72. The stock has a market capitalization of $32.89 million, a PE ratio of -1.71 and a beta of 1.55.

Lantern Pharma (NASDAQ:LTRN) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.07. During the same period in the previous year, the firm posted ($0.51) EPS. As a group, equities analysts expect that Lantern Pharma Inc. will post -1.9 EPS for the current fiscal year.

Institutional Trading of Lantern Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new stake in shares of Lantern Pharma during the 4th quarter valued at $32,000. Perigon Wealth Management LLC raised its stake in shares of Lantern Pharma by 169.8% during the 1st quarter. Perigon Wealth Management LLC now owns 39,387 shares of the company’s stock valued at $139,000 after purchasing an additional 24,787 shares during the period. Voss Capital LP bought a new stake in shares of Lantern Pharma during the 4th quarter valued at $160,000. Renaissance Technologies LLC raised its stake in shares of Lantern Pharma by 3.9% during the 4th 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 during the period. Finally, CM Management LLC raised its stake in shares of Lantern Pharma by 8.1% during the 4th quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $638,000 after purchasing an additional 15,000 shares during the period. 28.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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