Lantern Pharma (NASDAQ:LTRN) Stock Price Up 11.7% – What’s Next?

Lantern Pharma Inc. (NASDAQ:LTRN) shares were up 11.7% during mid-day trading on Wednesday . The stock traded as high as $3.09 and last traded at $2.87. Approximately 217,831 shares were traded during mid-day trading, an increase of 380% from the average daily volume of 45,380 shares. The stock had previously closed at $2.57.

Analysts Set New Price Targets

Several analysts have recently weighed in on LTRN shares. Wall Street Zen raised shares of Lantern Pharma from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Lantern Pharma in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lantern Pharma currently has an average rating of “Hold” and an average price target of $25.00.

Lantern Pharma Stock Performance

The firm has a market cap of $32.09 million, a price-to-earnings ratio of -1.64 and a beta of 1.55. The business has a fifty day moving average of $3.14 and a two-hundred day moving average of $3.68.

Institutional Investors Weigh In On Lantern Pharma

A number of large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers purchased a new position in Lantern Pharma during the 4th quarter valued at about $37,000. XTX Topco Ltd acquired a new stake in shares of Lantern Pharma in the second quarter valued at approximately $40,000. CIBC Private Wealth Group LLC purchased a new position in shares of Lantern Pharma during the 4th quarter worth approximately $47,000. Two Sigma Investments LP purchased a new position in shares of Lantern Pharma during the 3rd quarter worth approximately $70,000. Finally, Westside Investment Management Inc. raised its position in shares of Lantern Pharma by 17.1% during the 2nd quarter. Westside Investment Management Inc. now owns 35,900 shares of the company’s stock worth $113,000 after purchasing an additional 5,250 shares during the last quarter. 28.62% of the stock is owned by institutional investors and hedge funds.

About Lantern Pharma

Lantern Pharma, Inc is a clinical-stage oncology company leveraging artificial intelligence (AI) and machine learning to accelerate the discovery and development of targeted cancer therapies. Headquartered in Dallas, Texas, Lantern Pharma’s proprietary RADR® platform integrates large-scale genomic, transcriptomic and chemical data to identify novel drug candidates and predict patient populations most likely to benefit from treatment.

The company’s pipeline focuses on molecules designed to address cancers with high unmet medical need.