Longeveron (NASDAQ:LGVN) Stock Price Down 1.6% – Here’s What Happened

Longeveron Inc. (NASDAQ:LGVN)’s stock price fell 1.6% on Monday . The stock traded as low as $1.78 and last traded at $1.82. 300,919 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 4,308,238 shares. The stock had previously closed at $1.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LGVN shares. HC Wainwright reiterated a “buy” rating and set a $10.00 price target on shares of Longeveron in a research report on Wednesday, September 4th. Maxim Group dropped their target price on shares of Longeveron from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th.

Longeveron Price Performance

The stock has a 50 day moving average of $2.21 and a 200 day moving average of $2.17. The firm has a market cap of $11.68 million, a P/E ratio of -0.19 and a beta of 0.36.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($1.83) EPS for the quarter, missing the consensus estimate of ($1.03) by ($0.80). The firm had revenue of $0.47 million for the quarter, compared to the consensus estimate of $0.53 million. Longeveron had a negative net margin of 1,513.83% and a negative return on equity of 237.57%. On average, research analysts predict that Longeveron Inc. will post -3.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Longeveron

A hedge fund recently bought a new stake in Longeveron stock. Renaissance Technologies LLC purchased a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 146,700 shares of the company’s stock, valued at approximately $236,000. Renaissance Technologies LLC owned 2.31% of Longeveron as of its most recent SEC filing. Institutional investors and hedge funds own 10.01% of the company’s stock.

About Longeveron

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.