State Street Corp Takes $29,000 Position in Longeveron Inc. (NASDAQ:LGVN)

State Street Corp acquired a new position in Longeveron Inc. (NASDAQ:LGVN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 15,180 shares of the company’s stock, valued at approximately $29,000.

Separately, Renaissance Technologies LLC bought a new position in Longeveron in the 2nd quarter worth about $236,000. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LGVN. Roth Mkm started coverage on Longeveron in a report on Friday, December 6th. They set a “buy” rating and a $10.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Longeveron in a research note on Monday, November 25th. Finally, Roth Capital raised Longeveron to a “strong-buy” rating in a research note on Thursday, December 5th.

Longeveron Price Performance

Longeveron stock opened at $1.91 on Friday. Longeveron Inc. has a 12-month low of $0.77 and a 12-month high of $13.50. The stock has a market capitalization of $28.34 million, a PE ratio of -0.30 and a beta of 0.31. The firm has a 50 day simple moving average of $1.96 and a 200-day simple moving average of $2.22.

Longeveron (NASDAQ:LGVN) last released its earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.19. Longeveron had a negative return on equity of 142.43% and a negative net margin of 967.49%. The firm had revenue of $0.77 million during the quarter, compared to the consensus estimate of $0.34 million. During the same period in the prior year, the firm posted ($2.80) earnings per share. On average, analysts forecast that Longeveron Inc. will post -3.69 earnings per share for the current fiscal year.

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.