Longeveron Inc. (NASDAQ: LGVN) stock jumped 8.08% on Wednesday to $4.28 against a previous-day closing price of $3.96. With 0.28 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.25 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $4.4000 whereas the lowest price it dropped to was $3.9880. The 52-week range on LGVN shows that it touched its highest point at $45.00 and its lowest point at $3.15 during that stretch. It currently has a 1-year price target of $18.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LGVN was down-trending over the past week, with a drop of -0.47%, but this was up by 23.70% over a month. Three-month performance dropped to -19.25% while six-month performance fell -45.48%. The stock lost -75.15% in the past year, while it has lost -64.54% so far this year. A look at the trailing 12-month EPS for LGVN yields -0.89 with Next year EPS estimates of -0.86. For the next quarter, that number is -0.17. This implies an EPS growth rate of -353.10% for this year and -13.10% for next year.
Float and Shares Shorts:
At present, 20.94 million LGVN shares are outstanding with a float of 5.29 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.49 million, which was 2.33% higher than short shares on Sep 14, 2022. In addition to Dr. Joshua Michael Hare FACC, M.D. as the firm’s Co-Founder, Chief Science Officer & Chairman, Mr. James Clavijo CPA serves as its CFO & Treasurer.
Through their ownership of 6.40% of LGVN’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.83% of LGVN, in contrast to 3.67% held by mutual funds. Shares owned by individuals account for 27.33%. As the largest shareholder in LGVN with 3.09% of the stake, The Vanguard Group, Inc. holds 183,126 shares worth 183,126. A second-largest stockholder of LGVN, BlackRock Fund Advisors, holds 108,899 shares, controlling over 1.84% of the firm’s shares. Geode Capital Management LLC is the third largest shareholder in LGVN, holding 35,718 shares or 0.60% stake. With a 1.99% stake in LGVN, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 118,115 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.10% of LGVN stock, is the second-largest Mutual Fund holder. It holds 65,011 shares valued at 0.24 million. Fidelity Extended Market Index Fu holds 0.32% of the stake in LGVN, owning 19,024 shares worth 68867.0.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LGVN since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With LGVN analysts setting a high price target of $20.00 and a low target of $14.00, the average target price over the next 12 months is $18.00. Based on these targets, LGVN could surge 367.29% to reach the target high and rise by 227.1% to reach the target low. Reaching the average price target will result in a growth of 320.56% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. LGVN will report FY 2022 earnings on 03/28/2023. Analysts have provided yearly estimates in a range of -$0.75 being high and -$0.93 being low. For LGVN, this leads to a yearly average estimate of -$0.87. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Longeveron Inc. surprised analysts by -$0.03 when it reported -$0.25 EPS against a consensus estimate of -$0.22. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.25. The average estimate for the next quarter is thus -$0.20.
Summary of Insider Activity:
Insiders traded LGVN stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 2,691 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 16 over the past year. The total number of shares bought during that period was 7,564,987 while 7,100,397 shares were sold.