LAVA Therapeutics (NASDAQ:LVTX) Shares Down 4.6% – Here’s Why

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

Wall Street Analysts Forecast Growth

LVTX has been the subject of a number of analyst reports. Citizens Jmp cut shares of LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Leerink Partners restated a “market perform” rating and issued a $2.00 price objective (down previously from $11.00) on shares of LAVA Therapeutics in a research note on Thursday, December 12th. HC Wainwright cut their target price on LAVA Therapeutics from $6.00 to $2.00 and set a “buy” rating for the company in a research note on Friday, December 20th. JMP Securities restated a “market perform” rating and set a $6.00 price target on shares of LAVA Therapeutics in a research note on Wednesday, December 11th. Finally, Leerink Partnrs lowered LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.33.

LAVA Therapeutics Stock Performance

The firm has a market cap of $25.12 million, a price-to-earnings ratio of -0.93 and a beta of 0.57. The business’s 50-day moving average is $1.10 and its 200-day moving average is $1.53.

LAVA Therapeutics (NASDAQ:LVTX) last posted 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). Equities research analysts expect that LAVA Therapeutics will post -1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

LAVA Therapeutics Company Profile

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.