Longeveron (NASDAQ:LGVN) Given New $12.00 Price Target at HC Wainwright

Longeveron (NASDAQ:LGVN) had its target price increased by equities researchers at HC Wainwright from $6.00 to $12.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Longeveron Stock Down 3.4 %

Shares of LGVN stock traded down $0.06 on Monday, reaching $1.69. 121,286 shares of the company were exchanged, compared to its average volume of 1,605,380. The company has a market cap of $4.24 million, a price-to-earnings ratio of -0.17 and a beta of 0.22. The company has a 50-day moving average of $3.69 and a 200-day moving average of $10.95. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.50 and a quick ratio of 1.50. Longeveron has a one year low of $1.60 and a one year high of $44.00.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($2.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.40). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.21 million. Longeveron had a negative return on equity of 209.14% and a negative net margin of 3,020.17%. Analysts anticipate that Longeveron will post -8.5 earnings per share for the current year.

Insider Transactions at Longeveron

In related news, insider Joshua Hare acquired 106,383 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were bought at an average price of $2.35 per share, with a total value of $250,000.05. Following the transaction, the insider now directly owns 590,727 shares of the company’s stock, valued at $1,388,208.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Longeveron news, Director Rock Soffer purchased 31,915 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were acquired at an average price of $2.35 per share, with a total value of $75,000.25. Following the transaction, the director now owns 208,534 shares in the company, valued at $490,054.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joshua Hare purchased 106,383 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was acquired at an average cost of $2.35 per share, for a total transaction of $250,000.05. Following the transaction, the insider now owns 590,727 shares in the company, valued at approximately $1,388,208.45. The disclosure for this purchase can be found here. Insiders have purchased 148,936 shares of company stock valued at $350,000 in the last 90 days. 24.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC bought a new position in shares of Longeveron Inc. (NASDAQ:LGVN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned approximately 7.31% of Longeveron as of its most recent SEC filing. Hedge funds and other institutional investors own 10.01% of the company’s stock.

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, healthy adult donors.