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

LAVA Therapeutics (NASDAQ:LVTX) was the target of a significant decrease in short interest in 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. Currently, 1.5% of the shares of the stock are short sold. Based on an average daily volume of 417,100 shares, the short-interest ratio is presently 0.5 days.

LAVA Therapeutics Stock Performance

Shares of NASDAQ LVTX traded down $0.01 during mid-day trading on Friday, reaching $1.29. 43,333 shares of the company’s stock were exchanged, compared to its average volume of 173,459. The company’s 50-day moving average is $1.13 and its 200-day moving average is $1.37. The firm has a market capitalization of $33.92 million, a price-to-earnings ratio of -1.25 and a beta of 0.48. LAVA Therapeutics has a 52-week low of $0.85 and a 52-week high of $3.57.

LAVA Therapeutics (NASDAQ:LVTX) last posted its earnings results on Friday, March 28th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.18. The company had revenue of $2.50 million during the quarter, compared to analyst estimates of $2.40 million. As a group, equities analysts predict that LAVA Therapeutics will post -1.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LAVA Therapeutics

Hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in LAVA Therapeutics in the third quarter valued at approximately $32,000. BNP Paribas Financial Markets acquired a new stake in shares of LAVA Therapeutics in the fourth quarter valued at $40,000. Finally, Sanofi acquired a new stake in shares of LAVA Therapeutics in the fourth quarter valued at $1,825,000.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Leerink Partnrs downgraded LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 12th. Citizens Jmp lowered LAVA Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. JMP Securities reissued a “market perform” rating and issued a $6.00 price objective on shares of LAVA Therapeutics in a report on Wednesday, December 11th. Leerink Partners reaffirmed a “market perform” rating and set a $2.00 target price (down from $11.00) on shares of LAVA Therapeutics in a research note on Thursday, December 12th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $1.50 target price (down from $2.00) on shares of LAVA Therapeutics in a report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, LAVA Therapeutics presently has an average 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.