Lantern Pharma (NASDAQ:LTRN) Research Coverage Started at Lake Street Capital

Lake Street Capital initiated coverage on shares of Lantern Pharma (NASDAQ:LTRN) in a report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

Lantern Pharma Stock Down 8.0 %

NASDAQ LTRN opened at $2.99 on Wednesday. The firm has a market cap of $32.25 million, a P/E ratio of -1.68 and a beta of 1.63. The company’s 50 day moving average is $4.15 and its 200-day moving average is $3.76. Lantern Pharma has a 12-month low of $2.79 and a 12-month high of $8.42.

Lantern Pharma (NASDAQ:LTRN) last issued its earnings results on Thursday, March 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.03). Equities analysts expect that Lantern Pharma will post -1.9 EPS for the current year.

Hedge Funds Weigh In On Lantern Pharma

A number of large investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in Lantern Pharma in the 4th quarter worth approximately $32,000. Westside Investment Management Inc. raised its position in shares of Lantern Pharma by 166.5% in the third quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock worth $112,000 after buying an additional 19,150 shares in the last quarter. Voss Capital LP purchased a new stake in shares of Lantern Pharma in the fourth quarter worth $160,000. Renaissance Technologies LLC boosted its stake in Lantern Pharma by 3.9% during the fourth quarter. Renaissance Technologies LLC now owns 87,300 shares of the company’s stock valued at $278,000 after buying an additional 3,300 shares during the period. Finally, CM Management LLC boosted its stake in Lantern Pharma by 8.1% during the fourth quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $638,000 after buying an additional 15,000 shares during the period. 28.62% of the stock is currently owned by institutional investors.

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.