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

LAVA Therapeutics (NASDAQ:LVTX) released its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate 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 Price Performance

LVTX traded up $0.02 on Friday, reaching $1.50. The company had a trading volume of 2,433 shares, compared to its average volume of 219,694. The company’s fifty day moving average is $1.44 and its 200 day moving average is $1.74. LAVA Therapeutics has a fifty-two week low of $1.13 and a fifty-two week high of $7.38. The company has a quick ratio of 5.31, a current ratio of 5.31 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On LAVA Therapeutics

Several large investors have recently modified their holdings of the company. Bruce & Co. Inc. purchased a new position in LAVA Therapeutics in the 4th quarter worth approximately $350,000. PNC Financial Services Group Inc. boosted its holdings in shares of LAVA Therapeutics by 30.0% during the 2nd 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. Bank of America Corp DE boosted its holdings 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 buying an additional 32,084 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in LAVA Therapeutics during the 4th quarter worth approximately $66,000.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LVTX. JMP Securities reaffirmed a “market outperform” rating and set a $6.00 target price on shares of LAVA Therapeutics in a report on Wednesday, August 23rd. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of LAVA Therapeutics in a research report on Friday.

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.