Longeveron Inc. (NASDAQ:LGVN) Sees Large Decrease in Short Interest

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 669,300 shares, a decrease of 32.0% from the December 15th total of 984,900 shares. Currently, 15.0% of the company’s shares are short sold. Based on an average daily volume of 468,400 shares, the short-interest ratio is currently 1.4 days.

Longeveron Stock Performance

Longeveron stock traded down $0.06 during midday trading on Friday, hitting $1.70. 168,673 shares of the company’s stock were exchanged, compared to its average volume of 314,650. The company has a market cap of $25.23 million, a PE ratio of -0.27 and a beta of 0.39. The firm has a 50-day moving average of $1.90 and a two-hundred day moving average of $2.21. Longeveron has a 12 month low of $0.77 and a 12 month high of $11.00.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.19. The firm had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.34 million. Longeveron had a negative net margin of 967.49% and a negative return on equity of 142.43%. During the same period last year, the firm earned ($2.80) earnings per share. As a group, equities analysts expect that Longeveron will post -3.69 earnings per share for the current year.

Analyst Ratings Changes

LGVN has been the subject of a number of research analyst reports. Roth Capital upgraded shares of Longeveron to a “strong-buy” rating in a report on Thursday, December 5th. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Longeveron in a report on Monday, November 25th. Finally, Roth Mkm began coverage on Longeveron in a research note on Friday, December 6th. They issued a “buy” rating and a $10.00 price objective on the stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC purchased a new stake in shares of Longeveron during the 2nd quarter worth $236,000. Geode Capital Management LLC lifted its position in shares of Longeveron by 316.0% during 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, State Street Corp bought a new stake in shares of Longeveron in the 3rd quarter valued at about $29,000. 10.01% of the stock is currently owned by hedge funds and other institutional investors.

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.