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

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

LAVA Therapeutics Stock Up 1.4 %

Shares of LAVA Therapeutics stock opened at $1.50 on Friday. The company has a quick ratio of 5.31, a current ratio of 5.31 and a debt-to-equity ratio of 0.02. LAVA Therapeutics has a 52-week low of $1.13 and a 52-week high of $7.38. The company has a 50-day simple moving average of $1.44 and a two-hundred day simple moving average of $1.74.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of LAVA Therapeutics by 30.0% in the second quarter. PNC Financial Services Group Inc. now owns 65,000 shares of the company’s stock worth $132,000 after acquiring an additional 15,000 shares during the period. Bank of America Corp DE grew its stake in shares of LAVA Therapeutics by 20,566.7% in the first quarter. Bank of America Corp DE now owns 32,240 shares of the company’s stock worth $54,000 after acquiring an additional 32,084 shares during the period. Bruce & Co. Inc. bought a new stake in shares of LAVA Therapeutics in the fourth quarter worth approximately $350,000. Finally, Renaissance Technologies LLC bought a new stake in shares of LAVA Therapeutics in the fourth quarter worth approximately $66,000.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LVTX. JMP Securities reissued a “market outperform” rating and set a $6.00 price target on shares of LAVA Therapeutics in a research report on Wednesday, August 23rd. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of LAVA Therapeutics in a research report on Friday.

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.