Longeveron (NASDAQ:LGVN) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

Longeveron Inc. (NASDAQ:LGVN)’s stock price crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $3.08 and traded as high as $3.30. Longeveron shares last traded at $3.30, with a volume of 131,307 shares trading hands.

Analysts Set New Price Targets

LGVN has been the subject of several research analyst reports. Weiss Ratings downgraded Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 8th. Wall Street Zen upgraded Longeveron from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $80.00.

Longeveron Price Performance

The stock has a market capitalization of $7.94 million, a P/E ratio of -0.31 and a beta of -0.09. The stock’s fifty day moving average is $2.92 and its 200-day moving average is $6.44.

Longeveron (NASDAQ:LGVN) last posted its earnings results on Thursday, November 12th. The company reported ($1.91) earnings per share for the quarter, missing the consensus estimate of ($1.70) by ($0.21). Longeveron had a negative net margin of 1,921.72% and a negative return on equity of 209.21%. The company had revenue of $0.12 million for the quarter, compared to the consensus estimate of $0.80 million. On average, research analysts expect that Longeveron Inc. will post -7.20 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Longeveron stock. ADAR1 Capital Management LLC bought a new position in Longeveron Inc. (NASDAQ:LGVN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 200,000 shares of the company’s stock, valued at approximately $208,000. ADAR1 Capital Management LLC owned about 0.86% of Longeveron as of its most recent filing with the Securities and Exchange Commission. 10.01% of the stock is currently owned by institutional investors.

About Longeveron

Longeveron Inc. is a clinical-stage biotechnology company focused on developing regenerative medicines for serious and life-threatening conditions. The company’s research centers on cell-based therapies intended to support tissue repair, reduce harmful inflammation and promote the body’s natural healing processes. Longeveron’s lead investigational product is Lomecel-B, an allogeneic cell therapy derived from bone marrow obtained from healthy adult donors. The company has evaluated Lomecel-B in clinical programs addressing hypoplastic left heart syndrome, a rare congenital heart defect in infants, as well as Alzheimer’s disease and aging-related frailty.