Lake Street Capital Begins Coverage on Lantern Pharma (NASDAQ:LTRN)

Stock analysts at Lake Street Capital assumed coverage on shares of Lantern Pharma (NASDAQ:LTRN) in a report issued on Wednesday,Benzinga reports. The brokerage set a “buy” rating and a $25.00 price target on the stock.

Lantern Pharma Stock Performance

Shares of NASDAQ LTRN opened at $3.25 on Wednesday. Lantern Pharma has a 52-week low of $2.79 and a 52-week high of $8.90. The stock has a market cap of $35.05 million, a P/E ratio of -1.83 and a beta of 1.64. The firm has a 50 day moving average price of $4.20 and a two-hundred day moving average price of $3.77.

Lantern Pharma (NASDAQ:LTRN) last announced its earnings results on Thursday, March 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.03). Analysts predict that Lantern Pharma will post -1.9 earnings per share for the current fiscal year.

Institutional Trading of Lantern Pharma

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in shares of Lantern Pharma in the 4th quarter worth approximately $32,000. BIOS Capital Management LP bought a new position in Lantern Pharma during the fourth quarter worth $3,853,000. CM Management LLC raised 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 worth $638,000 after buying an additional 15,000 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in Lantern Pharma by 166.5% in the third quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock valued at $112,000 after buying an additional 19,150 shares during the period. Finally, Renaissance Technologies LLC boosted its position 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 acquiring an additional 3,300 shares during the last quarter. Institutional investors and hedge funds 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.