Lantern Pharma (NASDAQ:LTRN) Trading Down 15% – What’s Next?

Lantern Pharma Inc. (NASDAQ:LTRN)’s stock price fell 15% on Monday . The company traded as low as $4.15 and last traded at $4.59. 473,529 shares were traded during trading, an increase of 170% from the average session volume of 175,183 shares. The stock had previously closed at $5.40.

Lantern Pharma Trading Down 3.2 %

The firm has a market cap of $49.05 million, a price-to-earnings ratio of -2.56 and a beta of 1.54. The firm’s 50-day moving average is $3.60 and its 200-day moving average is $3.76.

Lantern Pharma (NASDAQ:LTRN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.14. During the same period in the previous year, the business earned ($0.29) earnings per share. Analysts forecast that Lantern Pharma Inc. will post -1.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its position in shares of Lantern Pharma by 24.5% during the second quarter. Renaissance Technologies LLC now owns 81,800 shares of the company’s stock worth $382,000 after acquiring an additional 16,100 shares in the last quarter. Westside Investment Management Inc. raised its stake in shares of Lantern Pharma by 166.5% during the 3rd quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock valued at $112,000 after purchasing an additional 19,150 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings 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 purchasing an additional 6,585 shares in the last quarter. Institutional investors 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.