LAVA Therapeutics (NASDAQ:LVTX) Sees Large Growth in Short Interest

LAVA Therapeutics (NASDAQ:LVTX) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 387,300 shares, a growth of 1,443.0% from the February 13th total of 25,100 shares. Currently, 3.0% of the shares of the stock are short sold. Based on an average daily volume of 448,100 shares, the days-to-cover ratio is currently 0.9 days.

LAVA Therapeutics Stock Down 1.5 %

Shares of NASDAQ:LVTX opened at $1.33 on Friday. The company has a market cap of $34.96 million, a P/E ratio of -1.29 and a beta of 0.48. The company’s fifty day moving average is $1.06 and its two-hundred day moving average is $1.40. LAVA Therapeutics has a 12-month low of $0.85 and a 12-month high of $4.21.

LAVA Therapeutics (NASDAQ:LVTX) last posted its quarterly earnings results 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 anticipate that LAVA Therapeutics will post -1.13 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on LVTX shares. Leerink Partnrs cut shares of LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 12th. Leerink Partners reissued a “market perform” rating and set a $2.00 price objective (down from $11.00) on shares of LAVA Therapeutics in a research note on Thursday, December 12th. HC Wainwright reaffirmed a “neutral” rating and set a $1.50 target price (down from $2.00) on shares of LAVA Therapeutics in a research report on Thursday, February 27th. Citizens Jmp lowered LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, JMP Securities restated a “market perform” rating and set a $6.00 price objective on shares of LAVA Therapeutics in a report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, LAVA Therapeutics currently has an average rating of “Hold” and an average price target of $3.17.

Institutional Trading of LAVA Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Sanofi acquired a new position in LAVA Therapeutics in the 4th quarter valued at approximately $1,825,000. BNP Paribas Financial Markets purchased a new position in shares of LAVA Therapeutics during the 4th quarter valued at $40,000. Finally, Virtu Financial LLC purchased a new stake in shares of LAVA Therapeutics during the third quarter worth $32,000.

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.