Longeveron Inc (NASDAQ:LGVN) price on current trading day, fall -2.28% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $2.57.
A look at the stock’s price movement, the close in the last trading session was $2.63, moving within a range at $2.54 and $2.67. The beta value (5-Year monthly) was 0.421. Turning to its 52-week performance, $35.60 and $0.77 were the 52-week high and 52-week low respectively. Overall, LGVN moved -15.46% over the past month.
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Longeveron Inc’s market cap currently stands at around $16.32 million, with investors looking forward to this quarter’s earnings report slated for on 2024-Aug-14.
Analysts have a consensus estimate of 330k for the company’s revenue for the quarter, with a low and high estimate of 300k and 370k respectively. The average forecast suggests up to a 120.00% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.72M, representing a 142.60% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that LGVN is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
LGVN’s current price about -6.10% and -4.86% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.05, while 7-day volatility ratio is 9.55% and 10.82% in the 30-day chart. Further, Longeveron Inc (LGVN) has a beta value of 0.42, and an average true range (ATR) of 0.35. Analysts have given the company’s stock an average 52-week price target of $10, forecast between a low of $10 and high of $10. Looking at the price targets, the low is -289.11% off current price level while to achieve the yearly target high, price needs to move -289.11%. Nonetheless, investors will most likely welcome a -289.11% jump to $10 which is the analysts’ median price.
If we refocus on Longeveron Inc (NASDAQ:LGVN), historical trading data shows that trading volumes averaged 0.96 over the past 10 days and 10.75 million over the past 3 months. The company’s latest data on shares outstanding shows there are 6.35 million shares.
The 27.39% of Longeveron Inc’s shares are in the hands of company insiders while institutional holders own 5.22% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.38 million on 2024-07-31, giving us a short ratio of 0.12. The data shows that as of 2024-07-31 short interest in Longeveron Inc (LGVN) stood at 1106.0 of shares outstanding, with shares short rising to 0.29 million registered in 2024-06-28. Current price change has pushed the stock -81.10% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the LGVN stock continues to rise going into the next quarter.
