Longeveron $LGVN Stock Up 19% On EF Hutton Buy

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LGVN stock rose more than 19% in early trading on January 5, 2022, after an analyst at EF Hutton gave the stock a Buy rating.

Longeveron initiated with a Buy at EF Hutton

EF Hutton analyst Constantine Davides initiated coverage of Longeveron with a Buy rating and $20 price target. The cellular therapy company focusing on aging-related and life-threatening conditions with high unmet needs has six clinical-stage programs in the U.S. and one in Japan, including lead asset Lomecel-B. He sees good signals in the company’s recently disclosed Phase 2b data “that warrant further investment and investigation,” Davides tells investors.

Longeveron Announces Initiation of Phase 2a Clinical Trial of Lomecel-B for the Treatment of Alzheimer’s Disease

On January 5, 2022, Longeveron Inc. (NASDAQ: LGVN), a clinical-stage biotechnology company developing cellular therapies for chronic aging-related and certain life-threatening conditions, announced today the initiation of its Phase 2a clinical trial evaluating Lomecel-B as a treatment for Alzheimer’s disease (AD). The first patient has consented to participate in the trial and patient screening has begun.

This Phase 2a study is intended to build on encouraging preliminary Phase 1 data that were announced in 2021. Additionally, the Phase 2a trial is designed to measure brain anatomy using MRI, and include detailed assessments of the inflammatory and vascular systems thought to contribute to the worsening of AD. The study, which will be conducted at a minimum of 6 centers, is led by Mark L. Brody, MD, of Brain Matters Research, Delray Beach, Florida.

“This is an important next step in the progress of our Alzheimer’s disease clinical program,” said Geoff Green, CEO of Longeveron. “We are pleased to have initiated this Phase 2a trial, as this study is intended to build upon the Phase 1 results and marks an important milestone in our efforts to explore the therapeutic potential of Lomecel-B in AD,” Green added.

Dementia resulting from AD is associated with vascular function decline and involves a pro-inflammatory state. In Longeveron’s prior Phase 1 trial, Lomecel-B treatment met the primary safety endpoint, with no safety concerns – including no evidence of Alzheimer’s-related imaging abnormality, known as ARIA. In addition, the levels of certain pro-vascular and anti-inflammatory biomarkers increased in the Lomecel-B treated subjects compared to placebo.

The Phase 2a trial is a double-blind, randomized, placebo-controlled design investigating safety and tolerability and secondary endpoints that include cognitive function and biomarkers following single or multiple infusions of Lomecel-B compared to placebo individuals with mild AD. The study consists of 4 treatment arms of 12 patients each, for a total target enrollment of 48 patients.

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📈 Longeveron Stock Technical Analysis

Lgvn Stock

The long-term trend is positive, and the short-term trend is negative. It is probably better to wait until this picture becomes clearer. LGVN is currently trading in the lower part of its 52-week range, which is not a good signal considering the S&P500 Index is trading near new highs.

There is a support zone ranging from 11.59 to 11.61. This zone is formed by a combination of multiple trend lines in multiple time frames.

LGVN has an average technical rating and it also does not offer a high-quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when LGVN stock consolidates and is a good entry.

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