LAVA Therapeutics (NASDAQ:LVTX) Releases Earnings Results, Beats Estimates By $0.15 EPS

LAVA Therapeutics (NASDAQ:LVTX) announced its quarterly earnings data on Thursday. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.15, MarketWatch Earnings reports. LAVA Therapeutics had a negative return on equity of 51.14% and a negative net margin of 167.49%.

LAVA Therapeutics Stock Down 0.7 %

NASDAQ LVTX opened at $1.48 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.31 and a current ratio of 5.31. LAVA Therapeutics has a twelve month low of $1.13 and a twelve month high of $7.38. The stock’s 50 day moving average is $1.44 and its 200 day moving average is $1.74.

Institutional Investors Weigh In On LAVA Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Bruce & Co. Inc. purchased a new position in shares of LAVA Therapeutics in the fourth quarter worth $350,000. PNC Financial Services Group Inc. increased its position in LAVA Therapeutics by 30.0% during the second quarter. PNC Financial Services Group Inc. now owns 65,000 shares of the company’s stock valued at $132,000 after acquiring an additional 15,000 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in LAVA Therapeutics during the fourth quarter valued at $66,000. Finally, Bank of America Corp DE increased its position in LAVA Therapeutics by 20,566.7% during the first quarter. Bank of America Corp DE now owns 32,240 shares of the company’s stock valued at $54,000 after acquiring an additional 32,084 shares during the last quarter.

Analyst Ratings Changes

LVTX has been the topic of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of LAVA Therapeutics in a research note on Friday. JMP Securities reiterated a “market outperform” rating and issued a $6.00 price objective on shares of LAVA Therapeutics in a research report on Wednesday, August 23rd.

LAVA Therapeutics Company Profile

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.