Lantern Pharma Inc. (NASDAQ:LTRN) Sees Significant Decrease in Short Interest

Lantern Pharma Inc. (NASDAQ:LTRN) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 179,100 shares, a drop of 19.8% from the August 31st total of 223,300 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 54,400 shares, the days-to-cover ratio is currently 3.3 days.

Lantern Pharma Stock Down 1.7 %

Lantern Pharma stock traded down $0.06 during trading hours on Friday, hitting $3.78. The stock had a trading volume of 52,786 shares, compared to its average volume of 149,754. The stock has a market cap of $40.62 million, a price-to-earnings ratio of -2.32 and a beta of 1.56. Lantern Pharma has a one year low of $2.38 and a one year high of $11.99. The business’s 50 day simple moving average is $4.05 and its 200-day simple moving average is $5.43.

Lantern Pharma (NASDAQ:LTRN) last released its earnings results 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 last year, the firm posted ($0.44) EPS. Research analysts anticipate that Lantern Pharma will post -2.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LTRN. Renaissance Technologies LLC lifted its holdings in shares of Lantern Pharma by 24.5% in the second quarter. Renaissance Technologies LLC now owns 81,800 shares of the company’s stock valued at $382,000 after purchasing an additional 16,100 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lantern Pharma by 55.7% in the second quarter. Dimensional Fund Advisors LP now owns 18,413 shares of the company’s stock valued at $86,000 after buying an additional 6,585 shares during the period. CM Management LLC raised its stake in shares of Lantern Pharma by 23.1% in the second quarter. CM Management LLC now owns 80,000 shares of the company’s stock valued at $374,000 after buying an additional 15,000 shares during the period. Westside Investment Management Inc. bought a new stake in shares of Lantern Pharma during the 2nd quarter valued at $54,000. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Lantern Pharma during the 1st quarter valued at $167,000. Institutional investors own 28.62% of the company’s stock.

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.