Lantern Pharma (NASDAQ:LTRN) Shares Down 6.1% – Time to Sell?

Lantern Pharma Inc. (NASDAQ:LTRN) fell 6.1% during mid-day trading on Monday . The company traded as low as $3.60 and last traded at $3.71. 56,845 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 112,361 shares. The stock had previously closed at $3.95.

Lantern Pharma Stock Performance

The business’s fifty day moving average is $4.19 and its 200-day moving average is $3.82. The firm has a market cap of $40.01 million, a P/E ratio of -2.08 and a beta of 1.60.

Institutional Trading of Lantern Pharma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LTRN. Westside Investment Management Inc. increased its position in 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. Sanctuary Advisors LLC acquired a new stake in Lantern Pharma during the 4th quarter valued at approximately $32,000. CM Management LLC increased its position in Lantern Pharma by 8.1% during the 4th quarter. CM Management LLC now owns 200,000 shares of the company’s stock valued at $638,000 after purchasing an additional 15,000 shares during the period. BIOS Capital Management LP acquired a new stake in Lantern Pharma during the 4th quarter valued at approximately $3,853,000. Finally, Renaissance Technologies LLC increased its position in Lantern Pharma by 3.9% during the 4th quarter. Renaissance Technologies LLC now owns 87,300 shares of the company’s stock valued at $278,000 after purchasing an additional 3,300 shares during the period. Institutional investors and hedge funds 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.