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

HC Wainwright restated their buy rating on shares of Longeveron (NASDAQ:LGVN) in a research report released on Wednesday, Benzinga reports. They currently have a $10.00 target price on the stock.

Separately, Maxim Group dropped their target price on shares of Longeveron from $15.00 to $6.00 and set a buy rating for the company in a research report on Tuesday, August 27th.

Longeveron Price Performance

Shares of LGVN stock opened at $1.97 on Wednesday. Longeveron has a 12 month low of $0.77 and a 12 month high of $26.80. The firm has a market capitalization of $12.51 million, a P/E ratio of -0.20 and a beta of 0.37. The company’s fifty day moving average price is $2.70 and its two-hundred day moving average price is $2.65.

Longeveron (NASDAQ:LGVN) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.80). The firm had revenue of $0.47 million during the quarter, compared to analyst estimates of $0.53 million. Longeveron had a negative return on equity of 237.57% and a negative net margin of 1,513.83%. On average, sell-side analysts anticipate that Longeveron will post -3.89 EPS for the current year.

Institutional Investors Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC bought a new position in Longeveron Inc. (NASDAQ:LGVN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned about 7.31% of Longeveron as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Longeveron Company Profile

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.