Longeveron (NASDAQ:LGVN) Shares Up 0.9% – Still a Buy?

Longeveron Inc. (NASDAQ:LGVN) rose 0.9% during trading on Thursday . The stock traded as high as $6.80 and last traded at $6.64. 59,554 shares traded hands during trading, a decline of 13% from the average session volume of 68,827 shares. The stock had previously closed at $6.58.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Longeveron from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Weiss Ratings cut shares of Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Longeveron presently has a consensus rating of “Hold” and a consensus target price of $80.00.

Longeveron Stock Up 0.9%

The stock has a market capitalization of $21.18 million, a P/E ratio of -0.67 and a beta of -0.25. The company has a 50-day moving average price of $6.88 and a two-hundred day moving average price of $7.85.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.75) by ($0.15). The firm had revenue of $0.29 million during the quarter, compared to the consensus estimate of $0.33 million. Longeveron had a negative net margin of 1,977.59% and a negative return on equity of 223.19%. On average, sell-side analysts expect that Longeveron Inc. will post -6.83 earnings per share for the current year.

Institutional Trading of Longeveron

An institutional investor recently bought a new position in Longeveron stock. ADAR1 Capital Management LLC purchased a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 200,000 shares of the company’s stock, valued at approximately $208,000. ADAR1 Capital Management LLC owned approximately 0.86% of Longeveron at the end of the most recent reporting period. Institutional investors own 10.01% of the company’s stock.

Longeveron Company Profile

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.