Longeveron (NASDAQ:LGVN) Price Target Raised to $12.00

Longeveron (NASDAQ:LGVN) had its price objective lifted by HC Wainwright from $6.00 to $12.00 in a research report report published on Monday morning, Marketbeat reports. HC Wainwright 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 %

LGVN stock opened at $1.74 on Monday. Longeveron has a 12 month low of $1.60 and a 12 month high of $44.00. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market cap of $4.37 million, a price-to-earnings ratio of -0.17 and a beta of 0.21. The company has a fifty day moving average price of $3.55 and a 200 day moving average price of $10.73.

Longeveron (NASDAQ:LGVN) last announced its earnings results on Tuesday, February 27th. The company reported ($2.50) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.21 million. Sell-side analysts expect that Longeveron will post -10.2 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Joshua Hare bought 106,383 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were acquired at an average price of $2.35 per share, with a total value of $250,000.05. Following the completion of the acquisition, the insider now owns 590,727 shares in the company, valued at approximately $1,388,208.45. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Rock Soffer purchased 31,915 shares of the company’s stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $2.35 per share, for a total transaction of $75,000.25. Following the completion of the purchase, 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 this link. Also, insider Joshua Hare acquired 106,383 shares of Longeveron stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of $2.35 per share, with a total value of $250,000.05. Following the transaction, the insider now owns 590,727 shares of the company’s stock, valued at $1,388,208.45. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 148,936 shares of company stock valued at $350,000. 24.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC purchased a new stake in Longeveron Inc. (NASDAQ:LGVN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned approximately 7.31% of Longeveron at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.01% of the company’s stock.

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.