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

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

Lantern Pharma Stock Up 3.4%

Shares of LTRN traded up $0.07 during trading hours on Friday, reaching $2.12. 259,254 shares of the company traded hands, compared to its average volume of 274,101. The stock has a market capitalization of $23.87 million, a PE ratio of -1.35 and a beta of 2.10. The stock has a fifty day simple moving average of $2.29 and a 200 day simple moving average of $3.04. Lantern Pharma has a fifty-two week low of $1.11 and a fifty-two week high of $5.74.

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

Hedge Funds Weigh In On Lantern Pharma

Several institutional investors and hedge funds have recently modified their holdings of LTRN. XTX Topco Ltd acquired a new stake in Lantern Pharma during the second quarter worth approximately $40,000. Vanguard Group Inc. raised its holdings in Lantern Pharma by 5.6% in the 3rd quarter. Vanguard Group Inc. now owns 384,041 shares of the company’s stock valued at $1,671,000 after acquiring an additional 20,321 shares during the last quarter. CM Management LLC lifted its stake in shares of Lantern Pharma by 12.5% during the 3rd quarter. CM Management LLC now owns 225,000 shares of the company’s stock worth $979,000 after purchasing an additional 25,000 shares during the period. Two Sigma Investments LP purchased a new position in shares of Lantern Pharma during the 3rd quarter worth $70,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Lantern Pharma during the third quarter worth $170,000. Hedge funds and other institutional investors own 28.62% of the company’s stock.

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.