Longeveron (NASDAQ:LGVN) Posts Quarterly Earnings Results, Meets Expectations

Longeveron (NASDAQ:LGVN) posted its earnings results on Wednesday. The company reported ($0.19) earnings per share for the quarter, hitting the consensus estimate of ($0.19), FiscalAI reports. The business had revenue of $0.40 million for the quarter, compared to analyst estimates of $0.33 million. Longeveron had a negative net margin of 1,893.58% and a negative return on equity of 199.79%.

Longeveron Price Performance

NASDAQ:LGVN traded up $0.00 during mid-day trading on Wednesday, reaching $0.76. 437,234 shares of the company were exchanged, compared to its average volume of 3,893,781. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The stock has a market cap of $17.57 million, a PE ratio of -0.59 and a beta of -0.31. Longeveron has a 12 month low of $0.48 and a 12 month high of $1.80. The company has a fifty day moving average of $0.92 and a 200 day moving average of $0.73.

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 Longeveron Inc. (NASDAQ:LGVN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing. 10.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. HC Wainwright cut their price target on shares of Longeveron from $10.00 to $8.00 and set a “buy” rating for the company in a report on Monday, May 4th. Wall Street Zen cut shares of Longeveron from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Maxim Group downgraded Longeveron from a “buy” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Longeveron in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Longeveron presently has an average rating of “Hold” and an average price target of $5.50.

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.