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

Longeveron Inc. (NASDAQ:LGVN) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 733,500 shares, a drop of 28.8% from the August 15th total of 1,030,000 shares. Approximately 16.1% of the shares of the company are short sold. Based on an average daily volume of 10,480,000 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

LGVN has been the subject of a number of recent research reports. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Longeveron in a research note on Wednesday, September 4th. Maxim Group lowered their price target on shares of 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 traded down $0.02 during midday trading on Monday, hitting $2.06. 349,679 shares of the company’s stock were exchanged, compared to its average volume of 4,635,396. Longeveron has a twelve month low of $0.77 and a twelve month high of $26.70. The firm has a market cap of $13.08 million, a P/E ratio of -0.22 and a beta of 0.37. The stock’s 50 day moving average price is $2.74 and its 200-day moving average price is $2.51.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.80). The business had revenue of $0.47 million for the quarter, compared to analyst estimates of $0.53 million. Longeveron had a negative return on equity of 237.57% and a negative net margin of 1,513.83%. On average, analysts expect that Longeveron will post -3.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Longeveron

A hedge fund recently bought a new stake in Longeveron stock. Renaissance Technologies LLC purchased a new stake in shares of Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 146,700 shares of the company’s stock, valued at approximately $236,000. Renaissance Technologies LLC owned 2.31% of Longeveron as of its most recent filing with the Securities and Exchange Commission. 10.01% of the stock is owned by hedge funds and other institutional investors.

Longeveron Company Profile

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.