LAVA Therapeutics (NASDAQ:LVTX) Issues Earnings Results, Beats Expectations By $0.15 EPS

LAVA Therapeutics (NASDAQ:LVTX) posted its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.15, MarketWatch Earnings reports. LAVA Therapeutics had a negative return on equity of 67.23% and a negative net margin of 557.33%. The business had revenue of $0.05 million for the quarter.

LAVA Therapeutics Stock Performance

LVTX stock opened at $1.50 on Friday. The company has a current ratio of 5.31, a quick ratio of 5.31 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $1.74. LAVA Therapeutics has a fifty-two week low of $1.13 and a fifty-two week high of $7.38.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in LAVA Therapeutics by 30.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 65,000 shares of the company’s stock worth $132,000 after buying an additional 15,000 shares during the period. Renaissance Technologies LLC bought a new position in LAVA Therapeutics during the 4th quarter worth $66,000. Bank of America Corp DE increased its position in LAVA Therapeutics by 20,566.7% during the 1st quarter. Bank of America Corp DE now owns 32,240 shares of the company’s stock worth $54,000 after buying an additional 32,084 shares during the period. Finally, Bruce & Co. Inc. bought a new position in LAVA Therapeutics during the 4th quarter worth $350,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $6.00 price target on shares of LAVA Therapeutics in a research note on Wednesday, August 23rd. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of LAVA Therapeutics in a research note on Friday.

LAVA Therapeutics Company Profile

LAVA Therapeutics N.V., a clinical-stage immuno-oncology company, focuses on developing cancer treatments. The company, through its Gammabody platform, develops a portfolio of novel bispecific antibodies to engage and leverage the potency and precision of gamma delta T cells to elicit an anti-tumor immune response and enhance outcomes for cancer patients.