HC Wainwright Boosts Longeveron (NASDAQ:LGVN) Price Target to $12.00

Longeveron (NASDAQ:LGVN) had its target price boosted by HC Wainwright from $6.00 to $12.00 in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Longeveron’s Q1 2024 earnings at ($1.31) EPS, Q2 2024 earnings at ($0.91) EPS, Q3 2024 earnings at ($0.81) EPS, Q4 2024 earnings at ($0.64) EPS, FY2024 earnings at ($3.34) EPS, Q1 2025 earnings at ($0.51) EPS, Q2 2025 earnings at ($0.46) EPS, Q3 2025 earnings at ($0.36) EPS, Q4 2025 earnings at ($0.37) EPS and FY2025 earnings at ($1.64) EPS.

Longeveron Stock Up 1.8 %

Longeveron stock opened at $1.74 on Monday. The business’s 50-day simple moving average is $3.55 and its two-hundred day simple moving average is $10.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market cap of $4.37 million, a PE ratio of -0.17 and a beta of 0.21. Longeveron has a fifty-two week low of $1.60 and a fifty-two week high of $44.00.

Longeveron (NASDAQ:LGVN) last released its earnings results on Tuesday, February 27th. The company reported ($2.50) EPS for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.40). Longeveron had a negative return on equity of 209.14% and a negative net margin of 3,020.17%. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.21 million. Equities analysts anticipate that Longeveron will post -10.2 EPS for the current year.

Insider Buying and Selling at Longeveron

In related news, Director Rock Soffer acquired 31,915 shares of the firm’s stock in a transaction on Thursday, April 11th. The shares were acquired at an average cost of $2.35 per share, with a total value of $75,000.25. Following the completion of the acquisition, the director now directly owns 208,534 shares in the company, valued at approximately $490,054.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Joshua Hare purchased 106,383 shares of the stock in a transaction dated Wednesday, April 10th. The shares were purchased at an average cost of $2.35 per share, with a total value of $250,000.05. Following the completion of the purchase, the insider now directly owns 590,727 shares of the company’s stock, valued at approximately $1,388,208.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Rock Soffer acquired 31,915 shares of Longeveron stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $2.35 per share, with a total value of $75,000.25. Following the completion of the purchase, the director now owns 208,534 shares in the company, valued at approximately $490,054.90. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 148,936 shares of company stock valued at $350,000. Company insiders own 24.34% of the company’s stock.

Institutional Investors Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC acquired a new stake in Longeveron Inc. (NASDAQ:LGVN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 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 quarter. 10.01% of the stock is currently 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, healthy adult donors.