Longeveron Inc
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Health Care : Biotechnology | Small Cap Value
Company profile

Longeveron Inc. is a clinical-stage biotechnology company, which is developing cellular therapies for specific aging-related and life-threatening conditions. The Company's lead investigational product is the LOMECEL-B cell-based therapy product (Lomecel-B), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young healthy adult donors. The Company is primarily focused on three pipeline indications, such as aging related frailty, Alzheimer's disease (AD), acute respiratory distress syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). Its Lomecel-B has multiple mechanisms of action encompassing pro-vascular, pro-regenerative, anti- inflammatory, and tissue repair and healing effects with potential applications across a spectrum of disease areas. The Company has bone marrow supply contracts in with two suppliers: the Oklahoma Blood Institute and Vista Health Research.

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Today's volume of 1,139 shares is on pace to be much lighter than LGVN's 10-day average volume of 51,971 shares.


Novavax and Palantir rocket higher, while PayPal slumps and other stocks on the move

2:06 pm ET May 9, 2023 (MarketWatch)

By Ciara Linnane

Novavax posts positive results from a trial of flu and COVID vaccines and says it's cutting a quarter of its workforce

Here are some of the biggest movers of the day on Tuesday:

Stock gainers:

Novavax Inc.'s stock (NVAX) soared 29% after the biotech company reported positive results from a trial of three flu and COVID vaccines and unveiled a restructuring that will see it part with a quarter of its staff. The move put the stock on track for its biggest one-day gain in more than two years as worries raised by the company's "going-concern" warning from earlier this year appeared to ease.

Palantir Technologies Inc.'s stock (PLTR) rocketed 24% after the software company surprised investors with its second-ever quarterly GAAP profit since coming public.

DaVita Inc.'s stock (DVA) soared 15% to lead S&P 500 gainers, after the provider of kidney dialysis services reported first-quarter adjusted earnings above Wall Street expectations, saying it benefited from "an improving macro environment."

Longeveron Inc.'s stock (LGVN) soared 34% after the biotech said its Lomecel-B for the treatment of a congenital heart defect in infants (Hypoplastic Left Heart Syndrome) achieved 100% survival up to 5 years of age in a trial.

AMC Networks Inc.'s stock (AMCX) jumped 7% after the TV network and streaming services company's first-quarter results beat analysts' top and bottom line expectations

Boeing Co.'s stock (BA) rose 2.2% after Ryanair Holdings PLC(RYA.DB) order 300 new 737-Max-10 aircraft in a deal valued at more than $40 billion.

Shoals Technologies Inc. (SHLS) shares jumped 24%, following a beat on earnings and revenue and a forecast increase for the solar-energy-components company.

Amazon.com Inc.'s stock (AMZN) was up 0.8% after it said it's offering shoppers $10 to pick up a purchase rather than have it shipped to a home address, in an apparent move to reduce home delivery costs amid slack consumer demand. I

Shares of Harmonic Inc.(HLIT) jumped 18% after the maker of fiber-optic and other telecommunications systems topped Wall Street expectations for its quarterly earnings, thanks to "strong demand" for its products.

Premier Inc. (PINC) shares rose 4% after the company announced that the board is considering strategic alternatives, including a potential sale.

Regional-bank stocks reversed their morning losses to trade higher by early afternoon. Western Alliance Bancorp.(WAL) was up 3.47%, PacWest Bancorp.(PACW) was up 6%, Comerica Inc.(CMA) was up 0.7% and KeyCorp (KEY) was up 1.3%.

Stock decliners:

PayPal Holdings Inc. shares (PYPL) fell 12% to pace S&P 500 decliners, though the company beat expectations with its latest results. However, its 2023 GAAP EPS guidance, of about $3.42, was beneath the $3.46 in a FactSet-compiled analyst view.

Shares of Lucid Group Inc.(LCID) shed 7% after the electric-vehicle startup reported steeper quarterly losses and tweaked its guidance for the year

WeWork Inc.'s stock (WE) slid 6% after the flexible workspace provider reported a first-quarter loss that narrowed a little more than expected and revenue that was in line, but provided a second-quarter outlook that was below Wall Street projections.

Coty Inc.'s stock (COTY) slid 2.5% despite an earnings beat for the beauty and fragrance company, which said prestige fragrances drove growth.

Warby Parker Inc.'s stock (WRBY) was down 1% after the eyewear company's first-quarter adjusted profit and revenue beat expectations, and it reiterated its full-year guidance but said it remains "cautious" about the near-term outlook given the "uncertain" macroeconomic outlook.

Western Digital Corp. (WDC) shares fell 2.3% as the data-storage device company's results came in better than expected but its forecast did not.

Skyworks Solutions Inc. (SWKS) shares fell 6% after the analog and mixed-signal chip maker's outlook fell short of Wall Street expectations.

Wayfair Inc. (W) stock fell 5% after the online furniture retailer said it planned to issue $600 million in convertible notes.

Hims & Hers Health Inc.(HIMS) shares fell 11%. The online telehealth and prescription platform reported a bigger per-share loss than expected for its first quarter, but raised its full-year sales forecast.

-Ciara Linnane

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.


(END) Dow Jones Newswires

May 09, 2023 14:06 ET (18:06 GMT)

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