Longeveron Inc. (NASDAQ:LGVN) Sees Significant Growth in Short Interest

Longeveron Inc. (NASDAQ:LGVN) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 736,800 shares, a growth of 31.7% from the February 28th total of 559,500 shares. Approximately 6.0% of the shares of the stock are sold short. Based on an average trading volume of 311,100 shares, the short-interest ratio is presently 2.4 days.

Longeveron Trading Down 3.2 %

LGVN stock traded down $0.05 during midday trading on Tuesday, reaching $1.50. The company had a trading volume of 133,293 shares, compared to its average volume of 3,488,446. Longeveron has a 1 year low of $0.77 and a 1 year high of $6.40. The company has a market capitalization of $22.39 million, a P/E ratio of -0.24 and a beta of 0.37. The company has a 50 day moving average of $1.59 and a two-hundred day moving average of $1.82.

Wall Street Analysts Forecast Growth

LGVN has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $10.00 price target on shares of Longeveron in a research report on Friday, March 21st. Roth Mkm began coverage on Longeveron in a report on Friday, December 6th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Roth Capital upgraded Longeveron to a “strong-buy” rating in a report on Thursday, December 5th.

Institutional Investors Weigh In On Longeveron

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp bought a new position in Longeveron during the third quarter valued at about $29,000. Northern Trust Corp acquired a new stake in shares of Longeveron in the fourth quarter worth $31,000. Jane Street Group LLC acquired a new stake in shares of Longeveron in the fourth quarter worth $35,000. Virtu Financial LLC bought a new position in Longeveron during the fourth quarter worth $53,000. Finally, Geode Capital Management LLC raised its stake in Longeveron by 316.0% during the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock valued at $250,000 after purchasing an additional 97,953 shares during the last quarter. 10.01% of the stock is 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.