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

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

Lantern Pharma Trading Up 0.3%

NASDAQ:LTRN traded up $0.01 during trading hours on Friday, hitting $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 has a fifty day moving average of $2.22 and a 200-day moving average of $2.92. Lantern Pharma has a 52-week low of $1.11 and a 52-week high of $5.74.

Insider Buying and Selling at Lantern Pharma

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

Hedge Funds Weigh In On Lantern Pharma

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Lantern Pharma by 5.6% during 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 lifted 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 valued at $335,000 after purchasing an additional 10,300 shares during the period. Geode Capital Management LLC lifted 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 valued at $293,000 after purchasing an additional 4,661 shares during the period. Susquehanna International Group LLP acquired a new stake in Lantern Pharma in the third quarter valued at about $170,000. Finally, Two Sigma Investments LP acquired a new stake in Lantern Pharma in the third quarter valued at about $70,000. Hedge funds and other institutional investors own 28.62% of the company’s stock.

Analyst Ratings Changes

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