Longeveron (NASDAQ:LGVN) Stock Price Down 4.1% – Should You Sell?

Shares of Longeveron Inc. (NASDAQ:LGVN) fell 4.1% during trading on Tuesday . The stock traded as low as $0.52 and last traded at $0.5482. 171,988 shares changed hands during mid-day trading, a decline of 44% from the average session volume of 305,300 shares. The stock had previously closed at $0.5719.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Longeveron in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.50.

Longeveron Stock Down 4.1%

The firm has a market capitalization of $11.69 million, a PE ratio of -0.52 and a beta of 0.21. The stock has a 50-day moving average price of $0.61 and a 200 day moving average price of $0.88.

Longeveron (NASDAQ:LGVN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.13). Longeveron had a negative net margin of 1,485.25% and a negative return on equity of 138.44%. The company had revenue of $0.14 million during the quarter, compared to analysts’ expectations of $0.29 million. As a group, equities analysts predict that Longeveron Inc. will post -3.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. XTX Topco Ltd acquired a new stake in Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 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 quarter. Hedge funds and other institutional investors 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.