Lantern Pharma (NASDAQ:LTRN) Given Neutral Rating at HC Wainwright

Lantern Pharma (NASDAQ:LTRN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports.

Lantern Pharma Stock Down 6.8 %

LTRN opened at $5.38 on Thursday. Lantern Pharma has a 52 week low of $2.38 and a 52 week high of $11.99. The business has a fifty day simple moving average of $6.71 and a 200-day simple moving average of $4.80. The firm has a market cap of $57.78 million, a P/E ratio of -3.64 and a beta of 1.41.

Lantern Pharma (NASDAQ:LTRN) last released its quarterly earnings results on Monday, March 18th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. Sell-side analysts expect that Lantern Pharma will post -2.02 earnings per share for the current year.

Insider Activity

In other news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $4.85, for a total value of $360,340.45. Following the sale, the insider now directly owns 62,088 shares in the company, valued at $301,126.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.92% of the company’s stock.

Institutional Trading of Lantern Pharma

An institutional investor recently bought a new position in Lantern Pharma stock. Meridian Wealth Management LLC purchased a new stake in Lantern Pharma Inc. (NASDAQ:LTRN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,660 shares of the company’s stock, valued at approximately $57,000. Meridian Wealth Management LLC owned approximately 0.15% of Lantern Pharma at the end of the most recent reporting period. 28.62% of the stock is owned by institutional investors.

Lantern Pharma Company Profile

Lantern Pharma Inc, a clinical stage biotechnology company, focuses on artificial intelligence, machine learning, and genomic data to streamline the drug development process. Its product pipeline comprises LP-300, which is in phase 2 clinical trial in combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; LP-184, which is in phase 1 clinical trial for the treatment of solid tumor, such as pancreatic, breast, bladder, and lung cancers, and glioblastoma and other central nervous system cancers; and LP-284, which is in phase 1 clinical trial for the treatment of non-Hodgkin's lymphomas, including mantle cell lymphoma and double hit lymphoma.