LAVA Therapeutics (NASDAQ:LVTX) Announces Quarterly 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 for the quarter, topping the consensus estimate of ($0.49) by $0.15, MarketWatch Earnings reports. LAVA Therapeutics had a negative net margin of 557.33% and a negative return on equity of 67.23%. The company had revenue of $0.05 million for the quarter.

LAVA Therapeutics Stock Performance

Shares of NASDAQ LVTX opened at $1.50 on Friday. LAVA Therapeutics has a 12 month low of $1.13 and a 12 month high of $7.38. The firm’s 50 day simple moving average is $1.43 and its 200-day simple moving average is $1.74. The company has a quick ratio of 5.31, a current ratio of 5.31 and a debt-to-equity ratio of 0.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $6.00 price target on shares of LAVA Therapeutics in a report on Wednesday, August 23rd. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of LAVA Therapeutics in a report on Friday.

Institutional Investors Weigh In On LAVA Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake 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 worth $132,000 after purchasing 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% during the 1st quarter. Bank of America Corp DE now owns 32,240 shares of the company’s stock worth $54,000 after purchasing an additional 32,084 shares during the period. Bruce & Co. Inc. acquired a new stake in shares of LAVA Therapeutics during the 4th quarter worth approximately $350,000. Finally, Renaissance Technologies LLC purchased a new position in shares of LAVA Therapeutics during the 4th quarter valued at approximately $66,000.

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.