Short Interest in LAVA Therapeutics (NASDAQ:LVTX) Decreases By 50.6%

LAVA Therapeutics (NASDAQ:LVTX) saw a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 191,500 shares, a decrease of 50.6% from the February 28th total of 387,300 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily volume of 417,100 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of LVTX. Sanofi acquired a new stake in shares of LAVA Therapeutics during the fourth quarter worth $1,825,000. BNP Paribas Financial Markets purchased a new position in LAVA Therapeutics during the 4th quarter worth $40,000. Finally, Virtu Financial LLC acquired a new stake in shares of LAVA Therapeutics in the 3rd quarter worth $32,000.

LAVA Therapeutics Stock Performance

LAVA Therapeutics stock traded down $0.01 during midday trading on Friday, hitting $1.29. 43,333 shares of the company’s stock were exchanged, compared to its average volume of 173,459. The stock has a market cap of $33.92 million, a price-to-earnings ratio of -1.25 and a beta of 0.48. LAVA Therapeutics has a 12-month low of $0.85 and a 12-month high of $3.57. The firm’s 50 day simple moving average is $1.13 and its 200 day simple moving average is $1.37.

LAVA Therapeutics (NASDAQ:LVTX) last released its quarterly earnings results on Friday, March 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.18. The company had revenue of $2.50 million for the quarter, compared to analysts’ expectations of $2.40 million. On average, equities research analysts forecast that LAVA Therapeutics will post -1.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Leerink Partnrs downgraded shares of LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. JMP Securities reissued a “market perform” rating and issued a $6.00 price target on shares of LAVA Therapeutics in a research report on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and set a $2.00 price objective (down previously from $11.00) on shares of LAVA Therapeutics in a report on Thursday, December 12th. HC Wainwright reiterated a “neutral” rating and set a $1.50 target price (down previously from $2.00) on shares of LAVA Therapeutics in a research report on Thursday, February 27th. Finally, Citizens Jmp cut LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, LAVA Therapeutics has a consensus rating of “Hold” and a consensus target price of $3.17.

About LAVA Therapeutics

LAVA Therapeutics N.V., a clinical-stage immuno-oncology company, focuses on developing cancer treatments. The company through its Gammabody platform, develops a portfolio of novel bispecific antibodies to engage and leverage the potency and precision of gamma delta T cells to elicit an anti-tumor immune response and enhance outcomes for cancer patients.