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

Lantern Pharma (NASDAQ:LTRN) announced its quarterly earnings results on Friday. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.06, Zacks reports.

Lantern Pharma Price Performance

Shares of LTRN traded up $0.01 on Friday, reaching $3.14. The company’s stock had a trading volume of 549,904 shares, compared to its average volume of 285,110. The stock has a market capitalization of $35.51 million, a P/E ratio of -2.00 and a beta of 2.10. The stock’s 50 day simple moving average is $2.22 and its two-hundred day simple moving average is $2.92. Lantern Pharma has a 12-month low of $1.11 and a 12-month high of $5.74.

Insider Buying and Selling

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

Institutional Investors Weigh In On Lantern Pharma

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Lantern Pharma by 5.6% in 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 during the last quarter. Renaissance Technologies LLC increased its position in Lantern Pharma by 10.3% in 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 during the last quarter. Geode Capital Management LLC increased its position in Lantern Pharma by 5.1% in 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 during the last quarter. Susquehanna International Group LLP purchased a new position in Lantern Pharma during the third quarter worth $170,000. Finally, Two Sigma Investments LP purchased a new position in Lantern Pharma during the third quarter worth $70,000. Institutional investors own 28.62% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LTRN shares. Wall Street Zen raised shares of Lantern Pharma to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings raised shares of Lantern Pharma from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

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.