Lantern Pharma (NASDAQ:LTRN) Stock Price Up 11.7% – What’s Next?

Shares of Lantern Pharma Inc. (NASDAQ:LTRN) shot up 11.7% during trading on Wednesday . The stock traded as high as $3.09 and last traded at $2.87. 217,831 shares traded hands during mid-day trading, an increase of 380% from the average session volume of 45,380 shares. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Lantern Pharma from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lantern Pharma in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lantern Pharma currently has a consensus rating of “Hold” and an average target price of $25.00.

Lantern Pharma Trading Up 11.7%

The stock has a market cap of $32.09 million, a price-to-earnings ratio of -1.64 and a beta of 1.55. The stock’s 50 day moving average is $3.14 and its two-hundred day moving average is $3.68.

Hedge Funds Weigh In On Lantern Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in LTRN. Cetera Investment Advisers purchased a new stake in Lantern Pharma during the 4th quarter valued at approximately $37,000. XTX Topco Ltd acquired a new position in shares of Lantern Pharma in the second quarter valued at approximately $40,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Lantern Pharma during the fourth quarter worth approximately $47,000. Two Sigma Investments LP acquired a new stake in shares of Lantern Pharma during the third quarter worth $70,000. Finally, Westside Investment Management Inc. grew its position in Lantern Pharma by 17.1% in the 2nd quarter. Westside Investment Management Inc. now owns 35,900 shares of the company’s stock valued at $113,000 after buying an additional 5,250 shares during the last quarter. Hedge funds and other institutional investors own 28.62% of the company’s stock.

Lantern Pharma Company Profile

Lantern Pharma, Inc is a clinical-stage oncology company leveraging artificial intelligence (AI) and machine learning to accelerate the discovery and development of targeted cancer therapies. Headquartered in Dallas, Texas, Lantern Pharma’s proprietary RADR® platform integrates large-scale genomic, transcriptomic and chemical data to identify novel drug candidates and predict patient populations most likely to benefit from treatment.

The company’s pipeline focuses on molecules designed to address cancers with high unmet medical need.