Longeveron (NASDAQ:LGVN) Stock Price Down 4.1% – Here’s What Happened

Shares of Longeveron Inc. (NASDAQ:LGVN) dropped 4.1% on Tuesday . The stock traded as low as $0.52 and last traded at $0.5482. Approximately 171,988 shares changed hands during trading, a decline of 44% from the average daily volume of 305,300 shares. The stock had previously closed at $0.5719.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Longeveron in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.50.

Longeveron Price Performance

The stock has a market cap of $11.69 million, a price-to-earnings ratio of -0.52 and a beta of 0.21. The business’s 50 day moving average is $0.61 and its 200 day moving average is $0.88.

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

Institutional Investors Weigh In On Longeveron

A hedge fund recently bought a new stake in Longeveron stock. XTX Topco Ltd bought a new position in Longeveron Inc. (NASDAQ:LGVN) in the 2nd quarter, according to the company in its most recent 13F filing 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 0.32% of Longeveron as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 10.01% of the company’s stock.

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.