LAVA Therapeutics (NASDAQ:LVTX) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

LAVA Therapeutics (NASDAQ:LVTX) issued its quarterly earnings data on Thursday. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04), Zacks reports.

LAVA Therapeutics Stock Performance

LVTX stock traded down $0.01 during trading hours on Friday, reaching $1.61. The stock had a trading volume of 54,578 shares, compared to its average volume of 482,806. LAVA Therapeutics has a fifty-two week low of $0.85 and a fifty-two week high of $2.00. The stock has a 50-day simple moving average of $1.57 and a 200 day simple moving average of $1.44.

Insider Buying and Selling

In other news, major shareholder Gilde Healthcare Cooperatieve sold 1,181,131 shares of the firm’s stock in a transaction that occurred on Friday, October 17th. The stock was sold at an average price of $1.47, for a total value of $1,736,262.57. Following the completion of the sale, the insider directly owned 2,947,781 shares of the company’s stock, valued at $4,333,238.07. This trade represents a 28.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Versant Venture Capital Vi, L. sold 2,370,533 shares of LAVA Therapeutics stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $1.40, for a total value of $3,318,746.20. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 6,861,226 shares of company stock worth $9,944,164. Company insiders own 9.50% of the company’s stock.

Institutional Trading of LAVA Therapeutics

An institutional investor recently bought a new position in LAVA Therapeutics stock. Rangeley Capital LLC bought a new position in shares of LAVA Therapeutics N.V. (NASDAQ:LVTX) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 27,073 shares of the company’s stock, valued at approximately $36,000. Rangeley Capital LLC owned 0.10% of LAVA Therapeutics at the end of the most recent quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LVTX shares. HC Wainwright lowered their target price on LAVA Therapeutics from $1.50 to $1.24 and set a “neutral” rating for the company in a report on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LAVA Therapeutics in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group downgraded LAVA Therapeutics from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $3.00 to $1.50 in a report on Tuesday, August 5th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $2.69.

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.