Lantern Pharma Inc. (NASDAQ:LTRN) Short Interest Update

Lantern Pharma Inc. (NASDAQ:LTRN) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totaling 259,400 shares, a drop of 33.4% from the September 30th total of 389,700 shares. Based on an average daily trading volume, of 149,800 shares, the days-to-cover ratio is presently 1.7 days. Currently, 3.2% of the company’s stock are sold short. Currently, 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 149,800 shares, the days-to-cover ratio is presently 1.7 days.

Lantern Pharma Stock Down 2.2%

NASDAQ:LTRN traded down $0.09 during trading hours on Tuesday, reaching $3.74. 67,445 shares of the stock were exchanged, compared to its average volume of 141,150. The firm has a 50 day simple moving average of $4.15 and a 200-day simple moving average of $3.88. Lantern Pharma has a 52 week low of $2.55 and a 52 week high of $6.12. The stock has a market capitalization of $40.34 million, a P/E ratio of -2.10 and a beta of 1.52.

Lantern Pharma (NASDAQ:LTRN) last released its earnings results on Wednesday, August 13th. The company reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.13. As a group, analysts expect that Lantern Pharma will post -1.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LTRN has been the subject of a number of analyst reports. Wall Street Zen downgraded Lantern Pharma from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reissued a “sell (d-)” rating on shares of Lantern Pharma in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Lantern Pharma currently has a consensus rating of “Hold” and a consensus target price of $25.00.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lantern Pharma stock. XTX Topco Ltd bought a new position in shares of Lantern Pharma Inc. (NASDAQ:LTRN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 12,624 shares of the company’s stock, valued at approximately $40,000. XTX Topco Ltd owned about 0.12% of Lantern Pharma as of its most recent SEC filing. 28.62% of the stock is owned by institutional investors and hedge funds.

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.