Longeveron (NASDAQ:LGVN) Shares Break Above 50-Day Moving Average – Should You Sell?

Longeveron Inc. (NASDAQ:LGVN)’s share price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $3.08 and traded as high as $3.30. Longeveron shares last traded at $3.30, with a volume of 131,307 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Wall Street Zen raised shares of Longeveron from a “sell” rating to a “hold” rating in a research report on Saturday, October 31st. Weiss Ratings downgraded Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 8th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

Longeveron Stock Up 16.2%

The firm has a market cap of $10.53 million, a price-to-earnings ratio of -0.33 and a beta of -0.09. The company’s 50-day moving average price is $3.08 and its 200-day moving average price is $6.47.

Longeveron (NASDAQ:LGVN) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.75) by $1.56. Longeveron had a negative return on equity of 223.19% and a negative net margin of 1,977.59%. The firm had revenue of $0.29 million for the quarter, compared to analyst estimates of $0.33 million. Analysts predict that Longeveron Inc. will post -7.20 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Longeveron

An institutional investor recently bought a new stake in Longeveron stock. ADAR1 Capital Management LLC bought a new position in shares of Longeveron Inc. (NASDAQ:LGVN) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 200,000 shares of the company’s stock, valued at approximately $208,000. ADAR1 Capital Management LLC owned 0.86% of Longeveron at the end of the most recent reporting period. 10.01% of the stock is currently owned by institutional investors and hedge funds.

Longeveron Company Profile

Longeveron Inc. is a clinical-stage biotechnology company focused on developing regenerative medicines for serious and life-threatening conditions. The company’s research centers on cell-based therapies intended to support tissue repair, reduce harmful inflammation and promote the body’s natural healing processes. Longeveron’s lead investigational product is Lomecel-B, an allogeneic cell therapy derived from bone marrow obtained from healthy adult donors. The company has evaluated Lomecel-B in clinical programs addressing hypoplastic left heart syndrome, a rare congenital heart defect in infants, as well as Alzheimer’s disease and aging-related frailty.