Insider Buying: Lantern Pharma (NASDAQ:LTRN) Director Purchases 48,544 Shares of Stock

Lantern Pharma Inc. (NASDAQ:LTRN) Director D Jeffrey Keyser purchased 48,544 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $2.06 per share, with a total value of $100,000.64. Following the completion of the transaction, the director owned 94,303 shares in the company, valued at approximately $194,264.18. This trade represents a 106.09% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Lantern Pharma Stock Performance

Shares of NASDAQ:LTRN traded up $0.62 during trading on Thursday, reaching $3.13. The stock had a trading volume of 1,252,820 shares, compared to its average volume of 440,871. The firm’s fifty day moving average is $2.21 and its 200 day moving average is $2.93. Lantern Pharma Inc. has a 52 week low of $1.11 and a 52 week high of $5.74. The stock has a market cap of $35.38 million, a price-to-earnings ratio of -1.99 and a beta of 2.10.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LTRN. XTX Topco Ltd bought a new position in Lantern Pharma during the second quarter worth $40,000. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 20,321 shares in the last quarter. CM Management LLC boosted its stake in Lantern Pharma by 12.5% during the third quarter. CM Management LLC now owns 225,000 shares of the company’s stock worth $979,000 after acquiring an additional 25,000 shares in the last quarter. Two Sigma Investments LP bought a new position in Lantern Pharma during the third quarter worth $70,000. Finally, Susquehanna International Group LLP bought a new position in Lantern Pharma during the third quarter worth $170,000. 28.62% of the stock is owned by institutional investors.

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.