Lantern Pharma (NASDAQ:LTRN) Stock Price Up 13.3% – What’s Next?

Lantern Pharma Inc. (NASDAQ:LTRN)’s share price shot up 13.3% during trading on Friday . The stock traded as high as $3.87 and last traded at $3.74. 71,305 shares changed hands during trading, an increase of 43% from the average session volume of 50,003 shares. The stock had previously closed at $3.30.

Lantern Pharma Price Performance

The firm has a 50-day moving average of $3.36 and a 200 day moving average of $3.81. The company has a market capitalization of $40.34 million, a PE ratio of -2.10 and a beta of 1.56.

Institutional Investors Weigh In On Lantern Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its holdings in shares of Lantern Pharma by 55.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,413 shares of the company’s stock valued at $86,000 after buying an additional 6,585 shares during the period. Westside Investment Management Inc. increased its position in Lantern Pharma by 166.5% during the third quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock valued at $112,000 after acquiring an additional 19,150 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Lantern Pharma by 24.5% during the second quarter. Renaissance Technologies LLC now owns 81,800 shares of the company’s stock valued at $382,000 after acquiring an additional 16,100 shares during the last quarter. Hedge funds and other 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.