HC Wainwright Reaffirms "Neutral" Rating for Lantern Pharma (NASDAQ:LTRN)

Lantern Pharma (NASDAQ:LTRN - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at HC Wainwright in a report issued on Thursday, Benzinga reports.

Lantern Pharma Stock Up 1.5 %

LTRN traded up $0.08 during trading hours on Thursday, hitting $5.46. The stock had a trading volume of 124,295 shares, compared to its average volume of 254,372. The stock has a market cap of $58.64 million, a PE ratio of -3.64 and a beta of 1.41. Lantern Pharma has a 1 year low of $2.38 and a 1 year high of $11.99. The company's fifty day simple moving average is $6.71 and its 200 day simple moving average is $4.80.

Lantern Pharma (NASDAQ:LTRN - Get Free Report) last posted its earnings results on Monday, March 18th. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.01. As a group, equities analysts expect that Lantern Pharma will post -2.02 EPS for the current year.

Insider Buying and Selling at Lantern Pharma

In other news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $4.85, for a total transaction of $360,340.45. Following the transaction, the insider now directly owns 62,088 shares of the company's stock, valued at $301,126.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.92% of the company's stock.

Institutional Investors Weigh In On Lantern Pharma

A hedge fund recently raised its stake in Lantern Pharma stock. Meridian Wealth Management LLC increased its holdings in shares of Lantern Pharma Inc. (NASDAQ:LTRN - Free Report) by 18.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,660 shares of the company's stock after purchasing an additional 3,000 shares during the quarter. Meridian Wealth Management LLC owned 0.18% of Lantern Pharma worth $84,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 28.62% of the company's stock.

About Lantern Pharma

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.