Pathway Financial Advisors LLC Sells 3,500 Shares of Lantern Pharma Inc. (NASDAQ:LTRN)

Pathway Financial Advisors LLC cut its stake in shares of Lantern Pharma Inc. (NASDAQ:LTRN) by 12.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,001 shares of the company’s stock after selling 3,500 shares during the quarter. Pathway Financial Advisors LLC’s holdings in Lantern Pharma were worth $220,000 at the end of the most recent quarter.

Separately, Meridian Wealth Management LLC boosted its stake in Lantern Pharma by 18.0% during the fourth quarter. Meridian Wealth Management LLC now owns 19,660 shares of the company’s stock worth $84,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors own 28.62% of the company’s stock.

Insider Transactions at Lantern Pharma

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

Wall Street Analyst Weigh In

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

Lantern Pharma Stock Performance

Shares of Lantern Pharma stock traded down $0.29 during trading hours on Friday, reaching $4.15. The company’s stock had a trading volume of 117,388 shares, compared to its average volume of 204,549. Lantern Pharma Inc. has a one year low of $2.38 and a one year high of $11.99. The stock’s fifty day simple moving average is $5.80 and its two-hundred day simple moving average is $5.50. The company has a market capitalization of $44.65 million, a P/E ratio of -2.55 and a beta of 1.61.

Lantern Pharma (NASDAQ:LTRN) last announced its earnings results on Thursday, May 9th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.08). As a group, research analysts forecast that Lantern Pharma Inc. will post -1.98 earnings per share 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.