Short Interest in Longeveron Inc. (NASDAQ:LGVN) Declines By 21.2%

Longeveron Inc. (NASDAQ:LGVN) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 586,100 shares, a decrease of 21.2% from the January 15th total of 743,400 shares. Based on an average daily volume of 307,600 shares, the days-to-cover ratio is presently 1.9 days. Currently, 13.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Longeveron

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGVN. Geode Capital Management LLC raised its position in 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 acquiring an additional 97,953 shares in the last quarter. Virtu Financial LLC bought a new position in Longeveron during the fourth quarter valued at approximately $53,000. Jane Street Group LLC bought a new position in Longeveron during the fourth quarter valued at approximately $35,000. Northern Trust Corp bought a new position in Longeveron during the fourth quarter valued at approximately $31,000. Finally, State Street Corp bought a new position in Longeveron during the third quarter valued at approximately $29,000. Institutional investors own 10.01% of the company’s stock.

Longeveron Price Performance

LGVN traded up $0.10 during midday trading on Friday, hitting $1.67. 189,372 shares of the company’s stock traded hands, compared to its average volume of 170,394. The stock’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $2.00. Longeveron has a one year low of $0.77 and a one year high of $6.40.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Roth Capital raised shares of Longeveron to a “strong-buy” rating in a research report on Thursday, December 5th. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Longeveron in a research report on Monday, November 25th. Finally, Roth Mkm assumed coverage on shares of Longeveron in a research report on Friday, December 6th. They issued a “buy” rating and a $10.00 price target for the company.

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.