Lantern Pharma (NASDAQ:LTRN) Now Covered by Analysts at Lake Street Capital

Lake Street Capital initiated coverage on shares of Lantern Pharma (NASDAQ:LTRN) in a report published on Wednesday morning,Benzinga reports. The brokerage issued a buy rating and a $25.00 price objective on the stock.

Lantern Pharma Trading Up 3.3 %

Shares of LTRN stock opened at $3.42 on Wednesday. Lantern Pharma has a 12-month low of $2.79 and a 12-month high of $9.33. The business’s fifty day simple moving average is $4.22 and its 200-day simple moving average is $3.77. The company has a market cap of $36.88 million, a PE ratio of -1.92 and a beta of 1.64.

Lantern Pharma (NASDAQ:LTRN) last announced its earnings results on Thursday, March 27th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.03). On average, equities analysts forecast that Lantern Pharma will post -1.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LTRN. BIOS Capital Management LP purchased a new stake in shares of Lantern Pharma during the fourth quarter valued at $3,853,000. Voss Capital LP acquired a new position in shares of Lantern Pharma in the fourth quarter valued at about $160,000. Westside Investment Management Inc. raised its stake in shares of Lantern Pharma by 166.5% in the third quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock worth $112,000 after purchasing an additional 19,150 shares during the last quarter. CM Management LLC lifted its holdings in shares of Lantern Pharma by 8.1% during the fourth quarter. CM Management LLC now owns 200,000 shares of the company’s stock worth $638,000 after purchasing an additional 15,000 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in Lantern Pharma in the fourth quarter valued at approximately $32,000. 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.