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

Longeveron (NASDAQ:LGVN)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 429.10% from the stock’s current price.

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

Longeveron Trading Up 1.1 %

Shares of LGVN opened at $1.89 on Monday. The stock has a market cap of $28.05 million, a PE ratio of -0.30 and a beta of 0.36. Longeveron has a 1 year low of $0.77 and a 1 year high of $23.90. The stock has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $2.13.

Longeveron (NASDAQ:LGVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.19. Longeveron had a negative return on equity of 142.43% and a negative net margin of 967.49%. The company had revenue of $0.77 million during the quarter, compared to analysts’ expectations of $0.34 million. During the same period last year, the business earned ($2.80) earnings per share. On average, sell-side analysts forecast that Longeveron will post -3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Longeveron

Institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in Longeveron during the 2nd quarter worth $236,000. Geode Capital Management LLC lifted its stake in Longeveron by 316.0% in the third 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, State Street Corp acquired a new position in shares of Longeveron in the third quarter valued at approximately $29,000. 10.01% of the stock is owned by 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.