Longeveron (NASDAQ:LGVN) Stock Price Up 1.1% – Here’s What Happened

Longeveron Inc. (NASDAQ:LGVN) traded up 1.1% during mid-day trading on Monday . The stock traded as high as $1.82 and last traded at $1.77. Approximately 205,369 shares were traded during trading, a decline of 94% from the average session volume of 3,423,202 shares. The stock had previously closed at $1.75.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on LGVN shares. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Longeveron in a report on Monday, November 25th. Roth Mkm began coverage on Longeveron in a research note on Friday, December 6th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Roth Capital upgraded Longeveron to a “strong-buy” rating in a research report on Thursday, December 5th.

Longeveron Price Performance

The firm’s 50-day simple moving average is $1.99 and its two-hundred day simple moving average is $2.25. The company has a market capitalization of $26.26 million, a price-to-earnings ratio of -0.28 and a beta of 0.31.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.19. The business had revenue of $0.77 million for the quarter, compared to analysts’ expectations of $0.34 million. Longeveron had a negative return on equity of 142.43% and a negative net margin of 967.49%. During the same quarter in the prior year, the firm posted ($2.80) EPS. On average, analysts expect that Longeveron Inc. will post -3.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Longeveron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGVN. Renaissance Technologies LLC acquired a new position in Longeveron in the 2nd quarter valued at about $236,000. Geode Capital Management LLC boosted its stake in shares of Longeveron by 316.0% during the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after purchasing an additional 97,953 shares during the last quarter. Finally, State Street Corp purchased a new stake in shares of Longeveron during the third quarter worth about $29,000. Institutional investors and hedge funds own 10.01% of the company’s stock.

Longeveron Company Profile

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.