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

Lantern Pharma (NASDAQ:LTRN)‘s stock had its “neutral” rating reissued by stock analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports.

Lantern Pharma Trading Up 0.7 %

Shares of NASDAQ LTRN opened at $5.50 on Thursday. The firm’s 50-day moving average price is $6.76 and its 200-day moving average price is $4.82. Lantern Pharma has a 1-year low of $2.38 and a 1-year high of $11.99. The firm has a market capitalization of $59.08 million, a P/E ratio of -3.72 and a beta of 1.41.

Lantern Pharma (NASDAQ:LTRN) last announced its quarterly earnings data on Monday, March 18th. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.01. Equities research analysts forecast that Lantern Pharma will post -2.02 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Aaron G.L. Fletcher sold 74,297 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $4.85, for a total value of $360,340.45. Following the sale, the insider now owns 62,088 shares in the company, valued at approximately $301,126.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lantern Pharma

An institutional investor recently bought a new position in Lantern Pharma stock. Meridian Wealth Management LLC acquired a new stake in Lantern Pharma Inc. (NASDAQ:LTRN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,660 shares of the company’s stock, valued at approximately $57,000. Meridian Wealth Management LLC owned about 0.15% of Lantern Pharma as of its most recent filing with the SEC. Institutional investors own 28.62% of the company’s stock.

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.