Longeveron (NASDAQ:LGVN) Earns “Buy” Rating from HC Wainwright

Longeveron (NASDAQ:LGVN)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They presently have a $10.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 400.00% from the stock’s previous close.

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

Longeveron Stock Performance

NASDAQ:LGVN opened at $2.00 on Monday. Longeveron has a one year low of $0.77 and a one year high of $23.90. The business’s 50-day simple moving average is $2.02 and its 200 day simple moving average is $2.13. The stock has a market cap of $29.68 million, a price-to-earnings ratio of -0.32 and a beta of 0.36.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $0.77 million for the quarter, compared to analysts’ expectations of $0.34 million. During the same quarter in the prior year, the firm posted ($2.80) earnings per share. On average, equities research analysts predict that Longeveron will post -3.72 EPS for the current year.

Hedge Funds Weigh In On Longeveron

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp bought a new position in Longeveron in the 3rd quarter worth approximately $29,000. Geode Capital Management LLC boosted its stake in Longeveron by 316.0% during the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock valued at $250,000 after purchasing an additional 97,953 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Longeveron during the 2nd quarter valued at $236,000. 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.