HC Wainwright Reiterates Buy Rating for Longeveron (NASDAQ:LGVN)

HC Wainwright restated their buy rating on shares of Longeveron (NASDAQ:LGVN) in a report published on Monday,Benzinga reports. HC Wainwright currently has a $10.00 price target on the stock.

Separately, Maxim Group reduced their price objective on shares of Longeveron from $15.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th.

Longeveron Stock Up 3.7 %

Shares of LGVN stock opened at $1.96 on Monday. The company has a 50 day moving average of $2.02 and a 200-day moving average of $2.13. Longeveron has a 12-month low of $0.77 and a 12-month high of $23.90. The firm has a market cap of $29.09 million, a P/E ratio of -0.31 and a beta of 0.36.

Longeveron (NASDAQ:LGVN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.19. Longeveron had a negative net margin of 967.49% and a negative return on equity of 142.43%. The company had revenue of $0.77 million during the quarter, compared to analyst estimates of $0.34 million. During the same quarter last year, the business posted ($2.80) EPS. As a group, equities analysts expect that Longeveron will post -3.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. State Street Corp purchased a new position in Longeveron in the 3rd quarter valued at approximately $29,000. Geode Capital Management LLC grew its stake in Longeveron by 316.0% in the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock valued at $250,000 after buying an additional 97,953 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Longeveron in the 2nd quarter valued at approximately $236,000. 10.01% of the stock is currently owned by hedge funds and other institutional investors.

About Longeveron

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.