Lantern Pharma Inc. (NASDAQ:LTRN) Stock Short Interest Climbs 137.9%

Lantern Pharma Inc. (NASDAQ:LTRN) was the recipient of a significant increase in short interest in October. As of October 30th, there was short interest totaling 924,479 shares, an increase of 137.9% from the October 15th total of 388,655 shares. Based on an average trading volume of 345,314 shares, the days-to-cover ratio is presently 2.7 days. Approximately 6.8% of the company’s stock are short sold.

Lantern Pharma Price Performance

LTRN traded down $0.02 on Friday, reaching $0.44. 61,731 shares of the stock were exchanged, compared to its average volume of 307,747. The company’s 50-day moving average price is $1.01 and its 200 day moving average price is $2.34. Lantern Pharma has a fifty-two week low of $0.42 and a fifty-two week high of $4.34. The firm has a market capitalization of $6.51 million, a PE ratio of -0.27 and a beta of 2.48.

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.19).

Analysts Set New Price Targets

Several equities analysts recently commented on LTRN shares. Wall Street Zen lowered shares of Lantern Pharma from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings downgraded shares of Lantern Pharma from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Lantern Pharma

A number of institutional investors and hedge funds have recently modified their holdings of LTRN. Empery Asset Management LP acquired a new stake in shares of Lantern Pharma during the second quarter worth about $3,513,930. Renaissance Technologies LLC increased its holdings in Lantern Pharma by 5.1% in the 1st quarter. Renaissance Technologies LLC now owns 116,000 shares of the company’s stock worth $159,000 after buying an additional 5,600 shares during the period. BlackRock Inc. acquired a new position in Lantern Pharma in the 2nd quarter worth approximately $93,000. Bank of New York Mellon Corp purchased a new position in Lantern Pharma during the 2nd quarter worth approximately $89,000. Finally, Susquehanna International Group LLP purchased a new position in Lantern Pharma during the 2nd quarter worth approximately $59,000. Institutional investors and hedge funds own 28.62% of the company’s stock.

About Lantern Pharma

Lantern Pharma, Inc. is a clinical-stage biopharmaceutical company focused on developing precision cancer therapies. The company combines artificial intelligence, machine learning and genomic analysis to identify drug candidates, patient populations and biomarkers that may support more targeted oncology treatments. Lantern Pharma’s technology platform, RADR, is designed to analyze large volumes of biological, genomic and clinical data to help accelerate drug discovery and development. The platform is used to evaluate existing and novel therapeutic compounds, identify potential mechanisms of action and support the development of biomarker-driven clinical programs.