Longeveron (NASDAQ:LGVN) Issues Quarterly Earnings Results
by Michael Walen · The Markets DailyLongeveron (NASDAQ:LGVN – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.20, Zacks reports. Longeveron had a negative net margin of 1,485.25% and a negative return on equity of 138.44%. The business had revenue of $0.37 million for the quarter, compared to analysts’ expectations of $0.11 million.
Longeveron Trading Down 4.5%
Shares of NASDAQ:LGVN opened at $0.92 on Wednesday. The stock has a 50 day moving average of $0.60 and a 200 day moving average of $0.67. The company has a market cap of $19.56 million, a PE ratio of -0.85 and a beta of 0.23. Longeveron has a 12-month low of $0.48 and a 12-month high of $1.92.
Wall Street Analyst Weigh In
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Longeveron in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.50.
Get Our Latest Analysis on LGVN
Hedge Funds Weigh In On Longeveron
An institutional investor recently bought a new position in Longeveron stock. XTX Topco Ltd purchased a new position in Longeveron Inc. (NASDAQ:LGVN – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned 0.32% of Longeveron at the end of the most recent reporting period. Institutional investors and hedge funds own 10.01% of the company’s stock.
Longeveron Company Profile
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.