Longeveron (NASDAQ:LGVN) Trading Up 0.9% – What’s Next?

Longeveron Inc. (NASDAQ:LGVN)’s stock price rose 0.9% during mid-day trading on Thursday . The stock traded as high as $6.80 and last traded at $6.64. 59,554 shares changed hands during trading, a decline of 13% from the average daily volume of 68,827 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LGVN. Weiss Ratings downgraded Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Wall Street Zen cut Longeveron from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $80.00.

Longeveron Stock Performance

The stock’s 50 day moving average price is $6.88 and its 200 day moving average price is $7.85. The company has a market capitalization of $23.38 million, a P/E ratio of -0.74 and a beta of -0.25.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings data on Wednesday, August 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.75) by ($0.15). Longeveron had a negative net margin of 1,977.59% and a negative return on equity of 223.19%. The business had revenue of $0.29 million during the quarter, compared to analyst estimates of $0.33 million. On average, analysts expect that Longeveron Inc. will post -6.83 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. XTX Topco Ltd bought a new position in shares of Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned approximately 0.32% of Longeveron as of its most recent SEC filing. 10.01% of the stock is currently owned by institutional investors and hedge funds.

About Longeveron

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.