Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT) Stock Short Interest Report for October

Key Points

• Short interest fell sharply: LKFT short interest dropped 57.3% to 1.42 million shares as of October 15, representing about 2.2% of shares outstanding and 4.8 days to cover.
• Institutional ownership increased: Several institutional investors initiated or expanded positions, with institutions collectively owning 32.46% of the company.
• Analyst sentiment remains mixed: LKFT has an average “Hold” rating and a consensus price target of $35.50, while shares recently traded at $32.28. The company also exceeded quarterly earnings and revenue expectations.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 1,416,118 shares, a drop of 57.3% from the September 30th total of 3,317,951 shares. Based on an average daily volume of 297,058 shares, the short-interest ratio is presently 4.8 days. Approximately 2.2% of the shares of the stock are sold short.

Institutional Trading of Lakefront Biotherapeutics American Depositary Shares

Institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Lakefront Biotherapeutics American Depositary Shares during the first quarter worth approximately $248,000. ABC Arbitrage SA acquired a new stake in shares of Lakefront Biotherapeutics American Depositary Shares during the 1st quarter worth approximately $382,000. Finally, QRG Capital Management Inc. increased its stake in shares of Lakefront Biotherapeutics American Depositary Shares by 21.9% in the 1st quarter. QRG Capital Management Inc. now owns 19,705 shares of the biotechnology company's stock valued at $591,000 after acquiring an additional 3,535 shares in the last quarter. Institutional investors own 32.46% of the company's stock.

Lakefront Biotherapeutics American Depositary Shares Price Performance

NASDAQ LKFT traded down $0.05 on Friday, reaching $32.28. The company had a trading volume of 164,055 shares, compared to its average volume of 195,021. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -22.89 and a beta of 0.24. Lakefront Biotherapeutics American Depositary Shares has a fifty-two week low of $25.68 and a fifty-two week high of $36.24. The business has a 50 day moving average of $29.41 and a two-hundred day moving average of $29.98.

Lakefront Biotherapeutics American Depositary Shares (NASDAQ:LKFT - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The biotechnology company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.97) by $1.00. The company had revenue of $15.47 million during the quarter, compared to the consensus estimate of $7.29 million. As a group, research analysts predict that Lakefront Biotherapeutics American Depositary Shares will post -1.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LKFT has been the topic of several research analyst reports. Weiss Ratings raised Lakefront Biotherapeutics American Depositary Shares from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. TD Cowen began coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a report on Friday, August 21st. They set a "buy" rating on the stock. Morgan Stanley assumed coverage on shares of Lakefront Biotherapeutics American Depositary Shares in a research report on Tuesday, October 20th. They set an "equal weight" rating and a $26.00 price objective for the company. Royal Bank Of Canada upgraded shares of Lakefront Biotherapeutics American Depositary Shares from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $26.00 to $45.00 in a research report on Wednesday, September 23rd. Finally, UBS Group upgraded shares of Lakefront Biotherapeutics American Depositary Shares to a "buy" rating in a report on Wednesday, September 23rd. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.50.

Lakefront Biotherapeutics American Depositary Shares Company Profile

Galapagos NV, an integrated biopharmaceutical company, engages in the discovery, development, and commercialization of various medicines for high unmet medical need. Its pipeline products include filgotinib, a JAK1 inhibitor that is in various phases of clinical trials for the treatment of rheumatoid arthritis, Crohn's disease, ulcerative colitis, small bowel CD, fistulizing CD, ankylosing spondylitis, psoriatic arthritis, and uveitis. The company's pipeline products also comprise GLPG1972 that has completed Phase 2b trial for treating osteoarthritis; Toledo molecules, including GLPG3970, GLPG4399, and GLPG4876 for inflammation; and GLPG4716 and Ziritaxestat to treat idiopathic pulmonary fibrosis.

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