Longeveron (NASDAQ:LGVN) Posts Earnings Results

Longeveron (NASDAQ:LGVN) announced its earnings results on Wednesday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01), FiscalAI reports. Longeveron had a negative return on equity of 202.41% and a negative net margin of 1,844.49%.The business had revenue of $0.29 million for the quarter, compared to analyst estimates of $0.33 million.

Longeveron Price Performance

LGVN stock traded up $0.06 during mid-day trading on Wednesday, hitting $0.75. The stock had a trading volume of 835,533 shares, compared to its average volume of 2,449,461. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.05. Longeveron has a 52 week low of $0.47 and a 52 week high of $1.23. The firm has a market capitalization of $23.36 million, a P/E ratio of -0.66 and a beta of -0.31. The firm has a fifty day simple moving average of $0.71 and a 200 day simple moving average of $0.76.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Longeveron from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 28th. Wall Street Zen lowered Longeveron from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. HC Wainwright dropped their price objective on Longeveron from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, May 4th. Finally, Maxim Group downgraded Longeveron from a “buy” rating to a “hold” rating in a research report on Monday, May 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.50.

Institutional Trading of Longeveron

An institutional investor recently bought a new position in Longeveron stock. XTX Topco Ltd acquired a new stake in Longeveron Inc. (NASDAQ:LGVN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned about 0.32% of Longeveron at the end of the most recent reporting period. 10.01% of the stock is currently owned by institutional investors and hedge funds.

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.