Fintel reports that ProPhase Labs, Inc. has filed a 13G form with the SEC disclosing ownership of 910,000 shares of Lantern Pharma Inc. (LTRN). This represents 8.4% of the company.

Lantern Pharma (LTRN) is a clinical-stage biopharmaceutical company innovating the repurposing, revitalization and development of precision therapeutics in oncology. It leverages advances in machine learning, genomics, and artificial intelligence by using a proprietary A.I. platform to discover biomarker signatures that help identify patients more likely to respond to its pipeline of cancer therapeutics.

In their most recent financial statement, they reported the following for Q3 2022:

• The Harmonic clinical trial activated the first two clinical trial sites for a Phase 2 study in never-smoker patients with non-small lung cancer and anticipates multiple additional sites in the US during 2022
• IND-enabling studies for both LP-184 and LP-284 are expected to be complete in Q1 2023
• First in human Phase 1 clinical trials for both LP-184 and LP-284 drug candidates are targeted for launch in first half of 2023
• Intellectual property (IP) estate was strengthened with the addition of a new issued patent for LP-300 uses
• RADR?, a drug development platform focused on oncology and leveraging artificial intelligence, is ahead of schedule for both datapoint and functional module expansion
• $57.8 million in cash, cash equivalents, and marketable securities as of September 30, 2022
• A net decrease of $4.3 million in cash, cash equivalents, and marketable securities occurred during the three months ended September 30, 2022
• Lantern has a cash runway into 2025

What are other large shareholders doing?

 

Sanders Morris Harris Llc holds 365,930 shares representing 3.37% ownership of the company. In it’s prior filing, the firm reported owning 366,030 shares, representing a decrease of 0.03%. The firm decreased its portfolio allocation in LTRN by 27.34% over the last quarter.

GWM Advisors LLC holds 171,019 shares representing 1.58% ownership of the company. In it’s prior filing, the firm reported owning 169,972 shares, representing an increase of 0.61%. The firm decreased its portfolio allocation in LTRN by 16.55% over the last quarter.

Carlson Capital L P holds 168,000 shares representing 1.55% ownership of the company. In it’s prior filing, the firm reported owning 170,000 shares, representing a decrease of 1.19%. The firm decreased its portfolio allocation in LTRN by 9.33% over the last quarter.

Geode Capital Management, Llc holds 57,909 shares representing 0.53% ownership of the company. In it’s prior filing, the firm reported owning 57,564 shares, representing an increase of 0.60%. The firm decreased its portfolio allocation in LTRN by 12.87% over the last quarter.

CM Management, LLC holds 50,000 shares representing 0.46% ownership of the company. In it’s prior filing, the firm reported owning 45,100 shares, representing an increase of 9.80%. The firm decreased its portfolio allocation in LTRN by 2.84% over the last quarter.

What is the overall Fund Sentiment?

There are 47 funds or institutions reporting positions in Lantern Pharma Inc. This is an increase of 5 owner(s) or 11.90%.

Average portfolio weight of all funds dedicated to Lantern Pharma Inc. is 0.0175%, a decrease of 26.7496%. Total shares owned by institutions increased in the last three months by 2.15% to 1,504,518 shares.

Fintel’s Fund Sentiment Score is a quantitative model that ranks companies from zero to 100 based on Fund Sentiment. Fund Sentiment is important because it tells you if funds are buying or selling – and in particular how the company ranks compared to other companies in the investing universe.

This article originally appeared on Fintel.

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