Lantern Pharma (NASDAQ:LTRN) Receives “Neutral” Rating from HC Wainwright

HC Wainwright reaffirmed their neutral rating on shares of Lantern Pharma (NASDAQ:LTRN) in a research report released on Thursday, Benzinga reports.

Lantern Pharma Trading Up 0.7 %

Lantern Pharma stock opened at $5.50 on Thursday. Lantern Pharma has a twelve month low of $2.38 and a twelve month high of $11.99. The stock has a 50 day moving average of $6.76 and a two-hundred day moving average of $4.84. The stock has a market capitalization of $59.07 million, a price-to-earnings ratio of -3.72 and a beta of 1.41.

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings data on Monday, March 18th. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Equities analysts predict that Lantern Pharma will post -2.02 earnings per share for the current year.

Insider Activity

In other news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of the firm’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 value of $360,340.45. Following the completion of the sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.92% of the company’s stock.

Institutional Trading of Lantern Pharma

A hedge fund recently bought a new stake in Lantern Pharma stock. Meridian Wealth Management LLC acquired a new stake in Lantern Pharma Inc. (NASDAQ:LTRN) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,660 shares of the company’s stock, valued at approximately $57,000. Meridian Wealth Management LLC owned approximately 0.15% of Lantern Pharma at the end of the most recent reporting period. Institutional investors and hedge funds 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.