Longeveron (NASDAQ:LGVN) Posts Quarterly Earnings Results, Misses Estimates By $0.13 EPS

Longeveron (NASDAQ:LGVN) announced its quarterly earnings results on Tuesday. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.13), Zacks reports. Longeveron had a negative net margin of 1,485.25% and a negative return on equity of 123.85%. The company had revenue of $0.14 million during the quarter, compared to analyst estimates of $0.29 million.

Longeveron Price Performance

Shares of NASDAQ:LGVN traded up $0.01 during midday trading on Thursday, hitting $0.77. 96,291 shares of the company’s stock were exchanged, compared to its average volume of 489,744. Longeveron has a 12 month low of $0.63 and a 12 month high of $2.31. The company has a market cap of $16.26 million, a PE ratio of -0.76 and a beta of 0.16. The stock has a 50 day moving average price of $0.81 and a 200-day moving average price of $1.15.

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 shares of Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned about 0.32% of Longeveron as of its most recent filing with the Securities and Exchange Commission. 10.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Roth Capital cut their target price on shares of Longeveron from $10.00 to $3.00 and set a “buy” rating on the stock in a report on Friday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Longeveron in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Longeveron presently has a consensus rating of “Moderate Buy” and an average price target of $7.67.

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 and healthy adult donors.