Longeveron (NASDAQ:LGVN) Raised to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Longeveron (NASDAQ:LGVN) to a strong-buy rating in a report issued on Thursday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Longeveron in a report on Monday, November 25th. Roth Mkm initiated coverage on Longeveron in a research report on Friday. They set a “buy” rating and a $10.00 price target for the company. Finally, Maxim Group reduced their price target on Longeveron from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 27th.

Longeveron Price Performance

Shares of NASDAQ:LGVN opened at $2.08 on Thursday. Longeveron has a fifty-two week low of $0.77 and a fifty-two week high of $23.90. The business’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $2.16. The stock has a market capitalization of $30.87 million, a price-to-earnings ratio of -0.33 and a beta of 0.31.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $0.34 million. During the same period in the prior year, the company earned ($2.80) earnings per share. Research analysts expect that Longeveron will post -3.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp acquired a new stake in shares of Longeveron in the third quarter valued at approximately $29,000. Geode Capital Management LLC lifted its position in shares of Longeveron by 316.0% in the third quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock valued at $250,000 after buying an additional 97,953 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Longeveron in the second quarter valued at approximately $236,000. 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.