Longeveron’s (LGVN) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Longeveron (NASDAQ:LGVN) in a research note released on Thursday, Benzinga reports. HC Wainwright currently has a $10.00 price objective on the stock.

Longeveron Stock Performance

Shares of LGVN traded down $0.14 on Thursday, reaching $2.32. The stock had a trading volume of 462,522 shares, compared to its average volume of 5,135,579. The firm has a market capitalization of $14.73 million, a price-to-earnings ratio of -0.24 and a beta of 0.43. The company has a 50-day simple moving average of $2.59 and a 200-day simple moving average of $3.01. Longeveron has a 12-month low of $0.77 and a 12-month high of $35.60.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($1.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.01) by $0.40. Longeveron had a negative return on equity of 300.96% and a negative net margin of 2,129.24%. The business had revenue of $0.55 million during the quarter, compared to analysts’ expectations of $0.12 million. During the same quarter in the previous year, the business earned ($2.20) earnings per share. On average, analysts expect that Longeveron will post -3.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Longeveron

A hedge fund recently bought a new stake in Longeveron stock. Armistice Capital LLC bought a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 & Exchange Commission. 10.01% of the stock is currently owned by hedge funds and other institutional investors.

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.