Lantern Pharma (NASDAQ:LTRN) Shares Up 13.3% – Should You Buy?

Lantern Pharma Inc. (NASDAQ:LTRN) traded up 13.3% on Friday . The stock traded as high as $3.87 and last traded at $3.74. 71,305 shares were traded during trading, an increase of 43% from the average session volume of 50,003 shares. The stock had previously closed at $3.30.

Lantern Pharma Stock Up 13.3 %

The company has a fifty day simple moving average of $3.36 and a 200-day simple moving average of $3.81. The firm has a market cap of $40.34 million, a P/E ratio of -2.10 and a beta of 1.56.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LTRN. Dimensional Fund Advisors LP lifted its stake in shares of Lantern Pharma by 55.7% during the 2nd 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 in the last quarter. Westside Investment Management Inc. increased its stake in Lantern Pharma by 166.5% in the 3rd quarter. Westside Investment Management Inc. now owns 30,650 shares of the company’s stock worth $112,000 after buying an additional 19,150 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Lantern Pharma by 24.5% during the second quarter. Renaissance Technologies LLC now owns 81,800 shares of the company’s stock valued at $382,000 after acquiring an additional 16,100 shares during the period. 28.62% of the stock is owned by hedge funds and other institutional investors.

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.