Zacks Small Cap Forecasts Higher Earnings for Lantern Pharma

Lantern Pharma Inc. (NASDAQ:LTRN) – Stock analysts at Zacks Small Cap raised their FY2024 earnings per share estimates for shares of Lantern Pharma in a research report issued on Tuesday, November 12th. Zacks Small Cap analyst J. Vandermosten now forecasts that the company will earn ($1.90) per share for the year, up from their prior estimate of ($2.12). The consensus estimate for Lantern Pharma’s current full-year earnings is ($2.12) per share. Zacks Small Cap also issued estimates for Lantern Pharma’s Q4 2024 earnings at ($0.51) EPS and FY2025 earnings at ($1.86) EPS.

Lantern Pharma Stock Down 1.1 %

Shares of NASDAQ LTRN opened at $3.49 on Thursday. The stock’s fifty day simple moving average is $3.59 and its 200 day simple moving average is $4.46. The stock has a market capitalization of $37.62 million, a price-to-earnings ratio of -1.98 and a beta of 1.58. Lantern Pharma has a 52-week low of $3.04 and a 52-week high of $11.99.

Institutional Trading of Lantern Pharma

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of Lantern Pharma by 55.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,413 shares of the company’s stock worth $86,000 after acquiring an additional 6,585 shares in the last quarter. Westside Investment Management Inc. purchased a new position in Lantern Pharma during the 2nd quarter worth approximately $54,000. Tocqueville Asset Management L.P. acquired a new stake in Lantern Pharma during the 1st quarter valued at $167,000. Renaissance Technologies LLC lifted its holdings in shares of Lantern Pharma by 24.5% in the second quarter. Renaissance Technologies LLC now owns 81,800 shares of the company’s stock valued at $382,000 after purchasing an additional 16,100 shares in the last quarter. Finally, CM Management LLC boosted its position in shares of Lantern Pharma by 23.1% in the second quarter. CM Management LLC now owns 80,000 shares of the company’s stock worth $374,000 after buying an additional 15,000 shares during the 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.