LAVA Therapeutics (NASDAQ:LVTX) Stock Price Down 4.6% – Here’s What Happened

LAVA Therapeutics (NASDAQ:LVTX) fell 4.6% during trading on Wednesday . The company traded as low as $0.93 and last traded at $0.94. 38,737 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 72,032 shares. The stock had previously closed at $0.98.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LVTX. Leerink Partnrs lowered shares of LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. JMP Securities restated a “market perform” rating and set a $6.00 price objective on shares of LAVA Therapeutics in a research report on Wednesday, December 11th. HC Wainwright reduced their target price on LAVA Therapeutics from $6.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Leerink Partners reissued a “market perform” rating and set a $2.00 price target (down from $11.00) on shares of LAVA Therapeutics in a research note on Thursday, December 12th. Finally, Citizens Jmp downgraded LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.33.

LAVA Therapeutics Stock Performance

The business’s fifty day moving average price is $1.12 and its two-hundred day moving average price is $1.54. The stock has a market capitalization of $24.61 million, a P/E ratio of -0.91 and a beta of 0.57.

LAVA Therapeutics (NASDAQ:LVTX) last issued its quarterly earnings data on Tuesday, December 10th. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.11). As a group, analysts forecast that LAVA Therapeutics will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On LAVA Therapeutics

A hedge fund recently bought a new stake in LAVA Therapeutics stock. Virtu Financial LLC acquired a new position in LAVA Therapeutics (NASDAQ:LVTX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 19,103 shares of the company’s stock, valued at approximately $32,000. Virtu Financial LLC owned about 0.08% of LAVA Therapeutics at the end of the most recent reporting period.

About LAVA Therapeutics

LAVA Therapeutics N.V., a clinical-stage immuno-oncology company, focuses on developing cancer treatments. The company through its Gammabody platform, develops a portfolio of novel bispecific antibodies to engage and leverage the potency and precision of gamma delta T cells to elicit an anti-tumor immune response and enhance outcomes for cancer patients.