Q3 2024 Earnings Estimate for Lantern Pharma Inc. (NASDAQ:LTRN) Issued By Zacks Small Cap

Lantern Pharma Inc. (NASDAQ:LTRN) – Zacks Small Cap lifted their Q3 2024 earnings per share estimates for shares of Lantern Pharma in a report issued on Monday, August 12th. Zacks Small Cap analyst J. Vandermosten now anticipates that the company will post earnings per share of ($0.56) for the quarter, up from their previous forecast of ($0.57). The consensus estimate for Lantern Pharma’s current full-year earnings is ($2.23) per share. Zacks Small Cap also issued estimates for Lantern Pharma’s Q4 2024 earnings at ($0.59) EPS and FY2024 earnings at ($2.12) EPS.

Lantern Pharma (NASDAQ:LTRN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.09. During the same period in the previous year, the company earned ($0.44) EPS.

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

Lantern Pharma Stock Up 8.9 %

LTRN opened at $4.29 on Wednesday. The stock’s fifty day moving average is $4.44 and its two-hundred day moving average is $5.55. The company has a market capitalization of $46.16 million, a P/E ratio of -2.63 and a beta of 1.56. Lantern Pharma has a 52 week low of $2.38 and a 52 week high of $11.99.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Westside Investment Management Inc. purchased a new position in shares of Lantern Pharma in the 2nd quarter valued at $54,000. Meridian Wealth Management LLC grew its stake in Lantern Pharma by 18.0% during the 4th quarter. Meridian Wealth Management LLC now owns 19,660 shares of the company’s stock worth $84,000 after buying an additional 3,000 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Lantern Pharma by 55.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 18,413 shares of the company’s stock worth $86,000 after buying an additional 6,585 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new position in Lantern Pharma during the 1st quarter worth $167,000. Finally, CM Management LLC grew its stake in Lantern Pharma by 23.1% during the 2nd quarter. CM Management LLC now owns 80,000 shares of the company’s stock worth $374,000 after buying an additional 15,000 shares during the last quarter. 28.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Aaron G.L. Fletcher sold 10,000 shares of Lantern Pharma 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 transaction, the insider now directly owns 59,326 shares in the company, valued at approximately $370,787.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.92% 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.