Longeveron (NASDAQ:LGVN) Shares Up 3% – Should You Buy?

Longeveron Inc. (NASDAQ:LGVN)’s stock price shot up 3% during trading on Friday . The stock traded as high as $0.6876 and last traded at $0.6670. 507,207 shares traded hands during trading, an increase of 27% from the average session volume of 397,961 shares. The stock had previously closed at $0.6475.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LGVN. Roth Capital reduced their price objective on shares of Longeveron from $10.00 to $3.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Weiss Ratings reissued a “sell (e+)” rating on shares of Longeveron in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Longeveron has an average rating of “Moderate Buy” and an average price target of $7.67.

Longeveron Stock Performance

The company has a market cap of $14.23 million, a P/E ratio of -0.63 and a beta of 0.16. The business’s 50-day moving average price is $0.77 and its 200 day moving average price is $1.05.

Longeveron (NASDAQ:LGVN) last issued its earnings results on Tuesday, November 4th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.13). Longeveron had a negative net margin of 1,485.25% and a negative return on equity of 138.44%. The firm had revenue of $0.14 million during the quarter, compared to the consensus estimate of $0.29 million. Equities research analysts forecast that Longeveron Inc. will post -3.69 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Longeveron stock. R Squared Ltd increased its holdings in shares of Longeveron Inc. (NASDAQ:LGVN) by 160.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,560 shares of the company’s stock after acquiring an additional 15,140 shares during the quarter. R Squared Ltd owned about 0.16% of Longeveron worth $38,000 as of its most recent SEC filing. Institutional investors own 10.01% 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 and healthy adult donors.