Renaissance Technologies LLC Acquires New Stake in Longeveron Inc. (NASDAQ:LGVN)

Renaissance Technologies LLC acquired a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) during the second quarter, Holdings Channel reports. The firm acquired 146,700 shares of the company’s stock, valued at approximately $236,000.

Longeveron Stock Performance

Longeveron stock opened at $1.79 on Friday. The firm has a market cap of $11.36 million, a price-to-earnings ratio of -0.19 and a beta of 0.36. Longeveron Inc. has a 1 year low of $0.77 and a 1 year high of $23.90. The firm’s 50 day moving average price is $2.16 and its two-hundred day moving average price is $2.15.

Longeveron (NASDAQ:LGVN) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.03) by ($0.80). The business had revenue of $0.47 million during the quarter, compared to analyst estimates of $0.53 million. Longeveron had a negative return on equity of 237.57% and a negative net margin of 1,513.83%. As a group, equities analysts predict that Longeveron Inc. will post -3.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Longeveron in a research note on Wednesday, September 4th. Maxim Group lowered their price objective on shares of Longeveron from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th.

Longeveron 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.