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

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

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

Longeveron Stock Down 8.8 %

Shares of LGVN opened at $1.97 on Wednesday. The firm has a market cap of $12.51 million, a PE ratio of -0.20 and a beta of 0.37. The company’s fifty day moving average is $2.70 and its two-hundred day moving average is $2.65. Longeveron has a fifty-two week low of $0.77 and a fifty-two week high of $26.80.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.80). The company had revenue of $0.47 million during the quarter, compared to analyst estimates of $0.53 million. Longeveron had a negative net margin of 1,513.83% and a negative return on equity of 237.57%. As a group, equities research analysts anticipate that Longeveron will post -3.89 earnings per share for the current year.

Hedge Funds Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC acquired a new position in Longeveron Inc. (NASDAQ:LGVN) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned approximately 7.31% of Longeveron at the end of the most recent reporting period. Institutional investors and hedge funds 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.