Longeveron (NASDAQ:LGVN) Shares Up 1.7% – Here’s What Happened

Longeveron Inc. (NASDAQ:LGVN) traded up 1.7% during mid-day trading on Wednesday . The company traded as high as $0.66 and last traded at $0.6430. 102,204 shares traded hands during trading, a decline of 63% from the average daily volume of 273,014 shares. The stock had previously closed at $0.6322.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings cut Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Maxim Group downgraded Longeveron from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. HC Wainwright reduced their target price on Longeveron from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Monday, May 4th. Finally, Wall Street Zen raised Longeveron from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Longeveron Price Performance

The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.05. The company’s fifty day moving average is $0.76 and its two-hundred day moving average is $0.74. The stock has a market cap of $21.03 million, a price-to-earnings ratio of -0.60 and a beta of -0.35.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.19) EPS for the quarter, hitting analysts’ consensus estimates of ($0.19). Longeveron had a negative return on equity of 202.41% and a negative net margin of 1,844.49%.The company had revenue of $0.40 million for the quarter, compared to analysts’ expectations of $0.33 million. As a group, research analysts predict that Longeveron Inc. will post -0.68 earnings per share for the current year.

Hedge Funds Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. XTX Topco Ltd bought a new stake in Longeveron Inc. (NASDAQ:LGVN) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned approximately 0.32% of Longeveron at the end of the most recent reporting period. Institutional investors own 10.01% of the company’s stock.

Longeveron Company Profile

Longeveron Inc is a clinical-stage biotechnology company focused on the development and commercialization of allogeneic cellular therapies designed to address aging-related and inflammatory conditions. The company’s primary therapeutic candidate, Lomecel-B, is an off-the-shelf mesenchymal stem cell product derived from bone marrow. Through its proprietary manufacturing process, Longeveron aims to produce a consistent, scalable cell therapy platform with potential applications in multiple disease areas.

Longeveron’s pipeline encompasses several ongoing and completed clinical studies.