Lantern Pharma (NASDAQ:LTRN) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Lantern Pharma (NASDAQ:LTRN) issued its earnings results on Friday. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.06, Zacks reports.

Lantern Pharma Price Performance

Shares of LTRN stock traded up $0.01 during trading on Friday, hitting $3.14. 549,904 shares of the stock traded hands, compared to its average volume of 285,110. The firm has a market capitalization of $35.51 million, a P/E ratio of -2.00 and a beta of 2.10. The firm’s fifty day moving average price is $2.22 and its 200-day moving average price is $2.92. Lantern Pharma has a 52-week low of $1.11 and a 52-week high of $5.74.

Insider Activity at Lantern Pharma

In other news, Director Lee Troy Schalop purchased 48,544 shares of Lantern Pharma stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $2.06 per share, with a total value of $100,000.64. Following the transaction, the director owned 48,544 shares in the company, valued at $100,000.64. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director D Jeffrey Keyser bought 48,544 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $2.06 per share, for a total transaction of $100,000.64. Following the transaction, the director owned 94,303 shares of the company’s stock, valued at $194,264.18. This trade represents a 106.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Lantern Pharma by 10.3% during the fourth quarter. Renaissance Technologies LLC now owns 110,400 shares of the company’s stock worth $335,000 after purchasing an additional 10,300 shares in the last quarter. Vanguard Group Inc. lifted its stake in Lantern Pharma by 5.6% during the third quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock worth $1,671,000 after purchasing an additional 20,321 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lantern Pharma by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 96,742 shares of the company’s stock worth $293,000 after purchasing an additional 4,661 shares in the last quarter. Susquehanna International Group LLP acquired a new position in Lantern Pharma during the third quarter worth $170,000. Finally, Two Sigma Investments LP acquired a new position in Lantern Pharma during the third quarter worth $70,000. 28.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LTRN. Weiss Ratings upgraded Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Wall Street Zen upgraded Lantern Pharma to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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.