Longeveron (NASDAQ:LGVN) Releases Earnings Results, Misses Estimates By $0.13 EPS

Longeveron (NASDAQ:LGVN) issued its earnings results on Tuesday. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.13), Zacks reports. Longeveron had a negative return on equity of 95.91% and a negative net margin of 894.40%.The company had revenue of $0.14 million for the quarter, compared to the consensus estimate of $0.29 million.

Longeveron Price Performance

NASDAQ:LGVN traded down $0.02 during trading hours on Wednesday, hitting $0.78. 284,299 shares of the company were exchanged, compared to its average volume of 491,087. The company’s 50 day moving average price is $0.81 and its 200-day moving average price is $1.15. Longeveron has a 52-week low of $0.63 and a 52-week high of $2.31. The stock has a market capitalization of $16.43 million, a price-to-earnings ratio of -0.77 and a beta of 0.16.

Hedge Funds Weigh In On Longeveron

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Roth Capital dropped their target price on shares of Longeveron from $10.00 to $3.00 and set a “buy” rating for the company in a research report on Friday, August 15th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Longeveron in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.67.

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.