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

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

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

Longeveron Stock Performance

Shares of LGVN opened at $1.97 on Wednesday. Longeveron has a 52-week low of $0.77 and a 52-week high of $26.80. The stock’s 50-day simple moving average is $2.70 and its 200 day simple moving average is $2.66. The stock has a market capitalization of $12.51 million, a price-to-earnings ratio of -0.20 and a beta of 0.37.

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 the consensus estimate of ($1.03) by ($0.80). Longeveron had a negative net margin of 1,513.83% and a negative return on equity of 237.57%. The company had revenue of $0.47 million for the quarter, compared to the consensus estimate of $0.53 million. On average, research analysts forecast that Longeveron will post -3.89 earnings per share for the current fiscal year.

Institutional Trading of 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) in the 4th quarter, according to its most recent filing with the Securities & 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 at the end of the most recent reporting period. 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.