Longeveron (NASDAQ:LGVN) Trading 1.7% Higher – What’s Next?

Longeveron Inc. (NASDAQ:LGVN)’s stock price traded up 1.7% during trading on Wednesday . The company traded as high as $0.66 and last traded at $0.6430. 102,204 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 273,014 shares. The stock had previously closed at $0.6322.

Wall Street Analysts Forecast Growth

LGVN has been the subject of a number of analyst reports. HC Wainwright lowered their target price on shares of Longeveron from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Weiss Ratings raised shares of Longeveron from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, June 23rd. Wall Street Zen raised Longeveron from a “sell” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Maxim Group lowered Longeveron from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Longeveron presently has an average rating of “Hold” and an average price target of $5.50.

Longeveron Price Performance

The stock has a market capitalization of $20.03 million, a P/E ratio of -0.57 and a beta of -0.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.88 and a current ratio of 3.88. The business has a fifty day simple moving average of $0.77 and a 200-day simple moving average of $0.74.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.19) earnings per share for the quarter, meeting the consensus estimate of ($0.19). Longeveron had a negative net margin of 1,844.49% and a negative return on equity of 202.41%. The company had revenue of $0.40 million during the quarter, compared to analyst estimates of $0.33 million. Sell-side analysts expect that Longeveron Inc. will post -0.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Longeveron

A hedge fund recently bought a new stake in Longeveron stock. XTX Topco Ltd acquired a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned 0.32% of Longeveron at the end of the most recent quarter. Institutional investors 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.