Lantern Pharma Inc. (NASDAQ:LTRN) Short Interest Update

Key Points

• Short interest in Lantern Pharma Inc. increased by 109.5%, reaching a total of 549,000 shares as of July 15, with 6.7% of the stock currently short sold.
• Insiders, including major shareholder Leslie W. Kreis, have sold 315,700 shares worth approximately $1,000,580 over the past ninety days, indicating a significant reduction in their holdings.
• Institutional investors now hold 28.62% of Lantern Pharma's stock, with notable increases in holdings from firms such as Perigon Wealth Management LLC.

Lantern Pharma Inc. (NASDAQ:LTRN - Get Free Report) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 549,000 shares, agrowthof109.5% from the June 30th total of 262,100 shares. Based on an average daily trading volume, of 203,800 shares, the short-interest ratio is presently 2.7 days. Currently,6.7% of the shares of the company are short sold. Currently,6.7% of the shares of the company are short sold. Based on an average daily trading volume, of 203,800 shares, the short-interest ratio is presently 2.7 days.

Lantern Pharma Trading Down 1.2%

NASDAQ LTRN traded down $0.06 during trading on Wednesday, reaching $5.14. The company's stock had a trading volume of 270,748 shares, compared to its average volume of 428,856. The firm has a 50 day moving average price of $3.58 and a 200 day moving average price of $3.77. Lantern Pharma has a 12 month low of $2.55 and a 12 month high of $6.12. The firm has a market capitalization of $55.41 million, a price-to-earnings ratio of -2.79 and a beta of 1.60.

Lantern Pharma (NASDAQ:LTRN - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.42) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.07. During the same quarter last year, the company earned ($0.51) earnings per share. On average, equities analysts forecast that Lantern Pharma will post -1.9 EPS for the current fiscal year.

Insider Transactions at Lantern Pharma

In other news, major shareholder Aaron G.L. Fletcher sold 60,647 shares of Lantern Pharma stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $3.38, for a total transaction of $204,986.86. Following the completion of the sale, the insider owned 51,860 shares of the company's stock, valued at approximately $175,286.80. This trade represents a 53.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Leslie W. Kreis sold 60,647 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $3.38, for a total transaction of $204,986.86. Following the completion of the transaction, the insider owned 51,860 shares in the company, valued at $175,286.80. This trade represents a 53.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,700 shares of company stock worth $1,000,580. 7.31% of the stock is owned by company insiders.

Institutional Trading of Lantern Pharma

A number of institutional investors have recently modified their holdings of LTRN. Renaissance Technologies LLC boosted its holdings in shares of Lantern Pharma by 3.9% in the 4th quarter. Renaissance Technologies LLC now owns 87,300 shares of the company's stock valued at $278,000 after purchasing an additional 3,300 shares in the last quarter. Voss Capital LP bought a new stake in shares of Lantern Pharma during the 4th quarter worth $160,000. Perigon Wealth Management LLC boosted its stake in Lantern Pharma by 169.8% in the first quarter. Perigon Wealth Management LLC now owns 39,387 shares of the company's stock valued at $139,000 after buying an additional 24,787 shares in the last quarter. Finally, Westside Investment Management Inc. grew its position in Lantern Pharma by 17.1% in the second quarter. Westside Investment Management Inc. now owns 35,900 shares of the company's stock valued at $113,000 after acquiring an additional 5,250 shares during the last quarter. 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. 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.