Longeveron (NASDAQ:LGVN) Shares Down 4.2%

Shares of Longeveron Inc. (NASDAQ:LGVN) fell 4.2% during trading on Friday . The stock traded as low as $1.57 and last traded at $1.61. 725,694 shares traded hands during trading, a decline of 83% from the average session volume of 4,348,888 shares. The stock had previously closed at $1.68.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Longeveron in a research note on Friday, May 17th.

Longeveron Trading Down 4.2 %

The stock has a market cap of $10.22 million, a P/E ratio of -0.17 and a beta of 0.33. The stock’s fifty day moving average price is $1.57 and its 200 day moving average price is $5.48.

Longeveron (NASDAQ:LGVN) last announced its earnings results on Tuesday, May 14th. The company reported ($1.61) EPS for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.40. Longeveron had a negative net margin of 2,129.24% and a negative return on equity of 300.96%. The firm had revenue of $0.55 million for the quarter, compared to analysts’ expectations of $0.12 million. During the same quarter in the previous year, the business posted ($2.20) EPS. As a group, sell-side analysts forecast that Longeveron Inc. will post -3.87 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Joshua Hare purchased 106,383 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were bought at an average price of $2.35 per share, for a total transaction of $250,000.05. Following the purchase, the insider now directly owns 590,727 shares in the company, valued at approximately $1,388,208.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Longeveron news, insider Joshua Hare bought 106,383 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was acquired at an average price of $2.35 per share, with a total value of $250,000.05. Following the transaction, the insider now owns 590,727 shares in the company, valued at $1,388,208.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rock Soffer bought 31,915 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was acquired at an average cost of $2.35 per share, with a total value of $75,000.25. Following the transaction, the director now owns 208,534 shares in the company, valued at approximately $490,054.90. The disclosure for this purchase can be found here. Insiders have bought a total of 148,936 shares of company stock worth $350,000 in the last quarter. Corporate insiders own 19.12% of the company’s stock.

Institutional Investors Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC purchased a new position in Longeveron Inc. (NASDAQ:LGVN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned 7.31% of Longeveron at the end of the most recent reporting period. Institutional investors and hedge funds 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.