Longeveron Stock Set to Reverse Split on Wednesday, March 27th (NASDAQ:LGVN)

Longeveron Inc. (NASDAQ:LGVN) shares are set to reverse split before the market opens on Wednesday, March 27th. The 1-10 reverse split was announced on Wednesday, March 27th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 27th.

Longeveron Stock Performance

Shares of LGVN stock opened at $0.38 on Monday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $9.60 million, a price-to-earnings ratio of -0.37 and a beta of 0.32. Longeveron has a one year low of $0.35 and a one year high of $4.40. The company has a 50 day moving average price of $0.60 and a 200 day moving average price of $1.44.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings data on Tuesday, February 27th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). The company had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.21 million. Longeveron had a negative net margin of 3,020.17% and a negative return on equity of 209.14%. Sell-side analysts anticipate that Longeveron will post -0.85 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Longeveron in a report on Monday, December 4th.

Hedge Funds Weigh In On Longeveron

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Longeveron by 17.5% in the 1st quarter. Vanguard Group Inc. now owns 115,865 shares of the company’s stock valued at $1,599,000 after purchasing an additional 17,229 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of Longeveron in the first quarter valued at about $1,004,000. Gamco Investors INC. ET AL purchased a new stake in shares of Longeveron during the 1st quarter valued at about $449,000. Boothbay Fund Management LLC acquired a new position in Longeveron during the 2nd quarter worth approximately $254,000. Finally, Geode Capital Management LLC boosted its holdings in Longeveron by 78.6% in the 2nd quarter. Geode Capital Management LLC now owns 66,392 shares of the company’s stock worth $224,000 after acquiring an additional 29,212 shares during the period. Institutional investors and hedge funds own 3.80% of the company’s stock.

About Longeveron

Longeveron Inc, a clinical stage biotechnology company, develops cellular therapies for aging-related and life-threatening conditions in the United States and Japan. The company's lead investigational product is the LOMECEL-B, an allogeneic mesenchymal stem cell formulation sourced from the bone marrow of young, healthy adult donors.