Lantern Pharma Inc. (NASDAQ:LTRN) Major Shareholder Sells $123,600.00 in Stock

Lantern Pharma Inc. (NASDAQ:LTRN) major shareholder Aaron G.L. Fletcher sold 40,000 shares of the business’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $3.09, for a total transaction of $123,600.00. Following the completion of the sale, the insider now directly owns 49,957 shares of the company’s stock, valued at $154,367.13. The trade was a 44.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Thursday, June 12th, Aaron G.L. Fletcher sold 60,647 shares of Lantern Pharma stock. The shares were sold at an average price of $3.38, for a total value of $204,986.86.
• On Wednesday, June 11th, Aaron G.L. Fletcher sold 950 shares of Lantern Pharma stock. The stock was sold at an average price of $3.40, for a total transaction of $3,230.00.
• On Tuesday, June 10th, Aaron G.L. Fletcher sold 16 shares of Lantern Pharma stock. The stock was sold at an average price of $3.40, for a total value of $54.40.
• On Thursday, May 29th, Aaron G.L. Fletcher sold 20,200 shares of Lantern Pharma stock. The stock was sold at an average price of $3.03, for a total value of $61,206.00.
• On Wednesday, May 28th, Aaron G.L. Fletcher sold 15,000 shares of Lantern Pharma stock. The stock was 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 shares were sold at an average price of $3.05, for a total transaction of $64,162.85.

Lantern Pharma Price Performance

NASDAQ LTRN opened at $3.05 on Monday. Lantern Pharma Inc. has a 12 month low of $2.55 and a 12 month high of $6.12. The firm has a market capitalization of $32.89 million, a PE ratio of -1.71 and a beta of 1.55. The company’s 50 day simple moving average is $3.43 and its 200 day simple moving average is $3.73.

Lantern Pharma (NASDAQ:LTRN) last issued its earnings results on Thursday, May 15th. The company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.07. During the same quarter in the prior year, the firm earned ($0.51) EPS. Sell-side analysts anticipate that Lantern Pharma Inc. will post -1.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lantern Pharma

Several hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC purchased a new position in Lantern Pharma in the 4th quarter worth about $32,000. CM Management LLC lifted its stake in Lantern Pharma by 8.1% during the fourth 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 in the last quarter. BIOS Capital Management LP acquired a new position in shares of Lantern Pharma in the fourth quarter worth about $3,853,000. Renaissance Technologies LLC boosted 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 worth $278,000 after buying an additional 3,300 shares during the period. Finally, Voss Capital LP purchased a new position in shares of Lantern Pharma in the fourth quarter worth approximately $160,000. 28.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

About Lantern Pharma

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.