HC Wainwright Comments on Longeveron Inc.’s Q2 2024 Earnings (NASDAQ:LGVN)

Longeveron Inc. (NASDAQ:LGVN) – Equities research analysts at HC Wainwright lifted their Q2 2024 earnings per share estimates for Longeveron in a research report issued on Monday, July 29th. HC Wainwright analyst R. Selvaraju now expects that the company will post earnings per share of ($1.12) for the quarter, up from their prior estimate of ($1.17). HC Wainwright currently has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for Longeveron’s current full-year earnings is ($3.67) per share. HC Wainwright also issued estimates for Longeveron’s Q3 2024 earnings at ($0.70) EPS, Q4 2024 earnings at ($0.53) EPS, FY2024 earnings at ($3.12) EPS, Q1 2025 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.42) EPS, Q3 2025 earnings at ($0.33) EPS, Q4 2025 earnings at ($0.33) EPS and FY2025 earnings at ($1.49) EPS.

Longeveron Trading Down 2.9 %

Shares of NASDAQ LGVN opened at $3.04 on Wednesday. The stock has a fifty day simple moving average of $2.28 and a two-hundred day simple moving average of $3.48. Longeveron has a 1-year low of $0.77 and a 1-year high of $35.60. The firm has a market cap of $36.84 million, a price-to-earnings ratio of -0.32 and a beta of 0.43.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($1.61) earnings per share for the quarter, beating the consensus estimate of ($2.01) by $0.40. Longeveron had a negative return on equity of 300.96% and a negative net margin of 2,129.24%. The business had revenue of $0.55 million during the quarter, compared to analyst estimates of $0.12 million. During the same period in the prior year, the company earned ($2.20) earnings per share.

Hedge Funds Weigh In On Longeveron

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC purchased a new position in Longeveron Inc. (NASDAQ:LGVN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned 7.31% of Longeveron at the end of the most recent reporting period. Institutional investors and hedge funds 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 and healthy adult donors.