Lantern Pharma Inc. (NASDAQ:LTRN) Sees Significant Decline in Short Interest

Lantern Pharma Inc. (NASDAQ:LTRN) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 333,500 shares, a decline of 20.6% from the May 31st total of 419,800 shares. Based on an average daily trading volume, of 163,200 shares, the short-interest ratio is currently 2.0 days. Approximately 4.2% of the company’s stock are short sold.

Insider Buying and Selling

In related news, major shareholder Aaron G.L. Fletcher sold 10,000 shares of Lantern Pharma stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $6.25, for a total transaction of $62,500.00. Following the sale, the insider now owns 59,326 shares of the company’s stock, valued at approximately $370,787.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 6.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Lantern Pharma stock. Meridian Wealth Management LLC increased its holdings in Lantern Pharma Inc. (NASDAQ:LTRN) by 18.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,660 shares of the company’s stock after buying an additional 3,000 shares during the period. Meridian Wealth Management LLC owned about 0.18% of Lantern Pharma worth $84,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 28.62% of the company’s stock.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “neutral” rating on shares of Lantern Pharma in a report on Thursday, April 25th.

Lantern Pharma Price Performance

Shares of LTRN stock opened at $4.67 on Friday. The firm has a market cap of $50.25 million, a P/E ratio of -2.87 and a beta of 1.61. Lantern Pharma has a 1-year low of $2.38 and a 1-year high of $11.99. The firm has a fifty day moving average of $5.64 and a two-hundred day moving average of $5.52.

Lantern Pharma (NASDAQ:LTRN) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.08). On average, sell-side analysts expect that Lantern Pharma will post -2.23 EPS for the current year.

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.