HC Wainwright Cuts Longeveron (NASDAQ:LGVN) Price Target to $8.00

Longeveron (NASDAQ:LGVN) had its price objective decreased by investment analysts at HC Wainwright from $10.00 to $8.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Longeveron in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Longeveron from a “hold” rating to a “sell” rating in a research note on Saturday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Longeveron Price Performance

NASDAQ LGVN opened at $0.85 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 1.33. The firm’s 50 day moving average price is $0.89 and its 200-day moving average price is $0.72. Longeveron has a 52-week low of $0.48 and a 52-week high of $1.80. The company has a market cap of $19.80 million, a PE ratio of -0.66 and a beta of -0.31.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings data on Tuesday, March 17th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.20. Longeveron had a negative net margin of 1,893.58% and a negative return on equity of 199.79%. The firm had revenue of $0.37 million for the quarter, compared to the consensus estimate of $0.11 million. Sell-side analysts forecast that Longeveron will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Longeveron stock. XTX Topco Ltd purchased a new position in Longeveron Inc. (NASDAQ:LGVN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned about 0.32% 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 is a clinical-stage biotechnology company focused on the development and commercialization of allogeneic cellular therapies designed to address aging-related and inflammatory conditions. The company’s primary therapeutic candidate, Lomecel-B, is an off-the-shelf mesenchymal stem cell product derived from bone marrow. Through its proprietary manufacturing process, Longeveron aims to produce a consistent, scalable cell therapy platform with potential applications in multiple disease areas.

Longeveron’s pipeline encompasses several ongoing and completed clinical studies.