Lantern Pharma (NASDAQ:LTRN) Trading Down 13.8%

Lantern Pharma Inc. (NASDAQ:LTRN - Get Free Report)'s share price dropped 13.8% during trading on Thursday . The stock traded as low as $6.50 and last traded at $6.67. Approximately 347,757 shares were traded during trading, an increase of 31% from the average daily volume of 265,868 shares. The stock had previously closed at $7.74.

Lantern Pharma Price Performance

The firm has a market cap of $71.64 million, a PE ratio of -4.51 and a beta of 1.41. The firm has a 50-day simple moving average of $6.41 and a 200 day simple moving average of $4.64.

Lantern Pharma (NASDAQ:LTRN - Get Free Report) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. Sell-side analysts forecast that Lantern Pharma Inc. will post -2.02 earnings per share for the current fiscal year.

Insider Transactions at Lantern Pharma

In other news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of Lantern Pharma stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $4.85, for a total value of $360,340.45. Following the completion of the transaction, the insider now owns 62,088 shares of the company's stock, valued at approximately $301,126.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Lantern Pharma

Several large investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its holdings in Lantern Pharma by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 169,771 shares of the company's stock worth $1,214,000 after buying an additional 2,665 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Lantern Pharma by 55.8% during the 2nd quarter. Geode Capital Management LLC now owns 90,026 shares of the company's stock valued at $508,000 after purchasing an additional 32,252 shares during the period. Renaissance Technologies LLC grew its stake in shares of Lantern Pharma by 82.5% during the 2nd quarter. Renaissance Technologies LLC now owns 44,900 shares of the company's stock valued at $253,000 after purchasing an additional 20,300 shares during the period. Pathway Financial Advisors LLC grew its stake in shares of Lantern Pharma by 134.1% during the 3rd quarter. Pathway Financial Advisors LLC now owns 32,771 shares of the company's stock valued at $112,000 after purchasing an additional 18,770 shares during the period. Finally, State Street Corp grew its stake in shares of Lantern Pharma by 8.5% during the 1st quarter. State Street Corp now owns 27,752 shares of the company's stock valued at $198,000 after purchasing an additional 2,185 shares during the period. 28.62% of the stock is currently 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. It develops LP-100 for treatment in combination with the class of anticancer agent known as PARP inhibitors. The company also develops LP-300 as a combination therapy for never-smokers with non-small cell lung cancer adenocarcinoma; and LP-284, a novel small molecule and DNA damaging agent for the treatment of mantle cell lymphoma and double hit lymphoma.

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