Short Interest in Lantern Pharma Inc. (NASDAQ:LTRN) Declines By 20.3%

Lantern Pharma Inc. (NASDAQ:LTRN) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 1,741,042 shares, a decline of 20.3% from the March 31st total of 2,185,435 shares. Based on an average daily volume of 491,443 shares, the short-interest ratio is presently 3.5 days. Currently, 16.9% of the shares of the company are sold short.

Institutional Trading of Lantern Pharma

Hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers bought a new stake in shares of Lantern Pharma in the fourth quarter valued at approximately $37,000. XTX Topco Ltd bought 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 Lantern Pharma during the fourth quarter valued at approximately $47,000. Two Sigma Investments LP purchased a new position in Lantern Pharma during the third quarter valued at approximately $70,000. Finally, Susquehanna International Group LLP purchased a new position in Lantern Pharma during the third quarter valued at approximately $170,000. Institutional investors own 28.62% of the company’s stock.

Lantern Pharma Trading Up 3.4%

Shares of NASDAQ LTRN traded up $0.07 during midday trading on Friday, hitting $2.12. The company’s stock had a trading volume of 259,254 shares, compared to its average volume of 274,101. The stock has a fifty day moving average price of $2.29 and a 200 day moving average price of $3.04. Lantern Pharma has a one year low of $1.11 and a one year high of $5.74. The firm has a market capitalization of $23.87 million, a price-to-earnings ratio of -1.35 and a beta of 2.10.

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings results on Monday, March 30th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.10.

Lantern Pharma Company Profile

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.