Renaissance Technologies LLC Invests $236,000 in Longeveron Inc. (NASDAQ:LGVN)

Renaissance Technologies LLC purchased a new position in shares of Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 146,700 shares of the company’s stock, valued at approximately $236,000. Renaissance Technologies LLC owned about 2.31% of Longeveron as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LGVN. Maxim Group cut their target price on shares of Longeveron from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Longeveron in a report on Wednesday, September 4th.

Longeveron Stock Up 0.6 %

Shares of NASDAQ LGVN opened at $1.79 on Friday. The firm’s 50-day moving average price is $2.16 and its two-hundred day moving average price is $2.15. Longeveron Inc. has a 52-week low of $0.77 and a 52-week high of $23.90. The stock has a market capitalization of $11.36 million, a P/E ratio of -0.19 and a beta of 0.36.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.80). The business had revenue of $0.47 million for the quarter, compared to the consensus estimate of $0.53 million. Longeveron had a negative net margin of 1,513.83% and a negative return on equity of 237.57%. As a group, equities research analysts expect that Longeveron Inc. will post -3.89 earnings per share for the current year.

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.