Longeveron Inc. (NASDAQ:LGVN) Short Interest Down 28.8% in August

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

Institutional Inflows and Outflows

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

Longeveron Stock Up 3.0 %

LGVN traded up $0.06 during mid-day trading on Friday, reaching $2.08. 463,375 shares of the company traded hands, compared to its average volume of 4,659,599. Longeveron has a 52-week low of $0.77 and a 52-week high of $26.70. The company’s fifty day moving average price is $2.74 and its 200-day moving average price is $2.53. The stock has a market capitalization of $29.87 million, a P/E ratio of -0.22 and a beta of 0.37.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LGVN shares. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Longeveron in a report on Wednesday, September 4th. Maxim Group dropped their price target on shares of Longeveron from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th.

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.