Longeveron Inc. (NASDAQ:LGVN) Short Interest Update

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 226,295 shares, a decline of 86.7% from the August 15th total of 1,699,946 shares. Approximately 7.7% of the shares of the company are short sold. Based on an average daily trading volume, of 94,901 shares, the days-to-cover ratio is currently 2.4 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on LGVN shares. Wall Street Zen lowered shares of Longeveron from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Weiss Ratings cut shares of Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Longeveron presently has a consensus rating of “Hold” and an average price target of $80.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Longeveron stock. XTX Topco Ltd purchased a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned approximately 0.32% of Longeveron at the end of the most recent reporting period. Institutional investors and hedge funds own 10.01% of the company’s stock.

Longeveron Stock Up 7.9%

Longeveron stock traded up $0.53 during mid-day trading on Friday, hitting $7.17. 43,919 shares of the company were exchanged, compared to its average volume of 223,949. The company has a market capitalization of $22.84 million, a PE ratio of -0.72 and a beta of -0.25. The business has a fifty day moving average of $6.88 and a 200 day moving average of $7.85. Longeveron has a 1-year low of $4.75 and a 1-year high of $12.30.

Longeveron (NASDAQ:LGVN) last issued its earnings results on Wednesday, August 12th. The company reported ($1.90) EPS for the quarter, missing the consensus estimate of ($1.75) by ($0.15). Longeveron had a negative net margin of 1,977.59% and a negative return on equity of 223.19%. The firm had revenue of $0.29 million during the quarter, compared to analyst estimates of $0.33 million. Research analysts expect that Longeveron will post -6.83 earnings per share for the current year.

Longeveron Company Profile

Longeveron Inc is a clinical-stage biotechnology company focused on the development and commercialization of allogeneic cellular therapies designed to address aging-related and inflammatory conditions. The company’s primary therapeutic candidate, Lomecel-B, is an off-the-shelf mesenchymal stem cell product derived from bone marrow. Through its proprietary manufacturing process, Longeveron aims to produce a consistent, scalable cell therapy platform with potential applications in multiple disease areas.

Longeveron’s pipeline encompasses several ongoing and completed clinical studies.