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

Longeveron (NASDAQ:LGVN)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 400.00% from the stock’s previous close.

Separately, Maxim Group lowered their target price on shares of 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 Up 2.0 %

LGVN opened at $2.00 on Monday. The stock has a fifty day moving average of $2.02 and a 200-day moving average of $2.13. The firm has a market capitalization of $29.68 million, a P/E ratio of -0.32 and a beta of 0.36. Longeveron has a 12-month low of $0.77 and a 12-month high of $23.90.

Longeveron (NASDAQ:LGVN) last released its earnings results 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 analyst estimates of $0.34 million. During the same quarter in the prior year, the company earned ($2.80) earnings per share. On average, analysts expect that Longeveron will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Longeveron

A number of institutional investors have recently added to or reduced their stakes in LGVN. Renaissance Technologies LLC bought a new position in Longeveron during the second quarter worth about $236,000. State Street Corp acquired a new position in Longeveron during the 3rd quarter worth $29,000. Finally, Geode Capital Management LLC lifted its holdings in Longeveron by 316.0% during the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after buying an additional 97,953 shares in the last quarter. 10.01% of the stock is owned by institutional investors and hedge funds.

About Longeveron

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.