Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Announces Earnings Results

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) released its earnings results on Monday. The biotechnology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.97) by $1.01, FiscalAI reports. The firm had revenue of $15.47 million for the quarter, compared to the consensus estimate of $7.29 million.

Lakefront Biotherapeutics American Depositary Shares Trading Down 1.5%

Shares of NASDAQ:LKFT traded down $0.44 during midday trading on Wednesday, hitting $28.29. The company had a trading volume of 124,334 shares, compared to its average volume of 160,775. Lakefront Biotherapeutics American Depositary Shares has a 12 month low of $25.68 and a 12 month high of $37.78. The firm has a fifty day simple moving average of $28.68 and a 200 day simple moving average of $30.08. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -20.06 and a beta of 0.27.

Wall Street Analysts Forecast Growth

LKFT has been the subject of a number of research reports. Weiss Ratings lowered Lakefront Biotherapeutics American Depositary Shares from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Zacks Research upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Wall Street Zen lowered shares of Lakefront Biotherapeutics American Depositary Shares from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Royal Bank Of Canada lowered their price target on shares of Lakefront Biotherapeutics American Depositary Shares from $28.00 to $26.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Morgan Stanley dropped their price target on shares of Lakefront Biotherapeutics American Depositary Shares from $30.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.67.

Hedge Funds Weigh In On Lakefront Biotherapeutics American Depositary Shares

Several hedge funds have recently added to or reduced their stakes in LKFT. Jane Street Group LLC increased its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 2,245.7% in the 1st quarter. Jane Street Group LLC now owns 110,783 shares of the biotechnology company’s stock valued at $2,783,000 after acquiring an additional 115,946 shares during the last quarter. Geode Capital Management LLC bought a new position in Lakefront Biotherapeutics American Depositary Shares during the 2nd quarter worth approximately $220,000. Jump Financial LLC acquired a new position in Lakefront Biotherapeutics American Depositary Shares during the second quarter valued at approximately $692,000. Boothbay Fund Management LLC acquired a new position in Lakefront Biotherapeutics American Depositary Shares during the second quarter valued at approximately $612,000. Finally, Engineers Gate Manager LP bought a new stake in Lakefront Biotherapeutics American Depositary Shares in the second quarter valued at approximately $560,000. Institutional investors and hedge funds own 32.46% of the company’s stock.

About Lakefront Biotherapeutics American Depositary Shares

Galapagos NV (NASDAQ:GLPG) is a clinical-stage biotechnology company headquartered in Mechelen, Belgium, focused on the discovery and development of novel small-molecule therapies. Established in 1999 through the merger of Tibotec and Progenix, Galapagos has built a research platform targeting chronic inflammatory diseases, fibrosis and oncology. The company’s discovery engine integrates human genetics, translational biology and medicinal chemistry to identify and optimize drug candidates with unique modes of action.

The company’s pipeline encompasses multiple programs across various stages of development.