Longeveron Inc. (NASDAQ:LGVN) Short Interest Up 197.5% in March

Longeveron Inc. (NASDAQ:LGVN) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 4,553,371 shares, a growth of 197.5% from the February 26th total of 1,530,744 shares. Based on an average daily volume of 27,825,080 shares, the days-to-cover ratio is currently 0.2 days. Approximately 24.0% of the company’s stock are short sold. Approximately 24.0% of the company’s stock are short sold. Based on an average daily volume of 27,825,080 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Longeveron in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.00.

Institutional Trading of Longeveron

A hedge fund recently bought a new stake in Longeveron stock. XTX Topco Ltd bought a new stake in Longeveron Inc. (NASDAQ:LGVN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned about 0.32% of Longeveron as of its most recent SEC filing. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Longeveron Stock Performance

LGVN stock traded up $0.05 during midday trading on Wednesday, hitting $0.94. The company’s stock had a trading volume of 304,631 shares, compared to its average volume of 5,823,010. The stock has a market cap of $20.07 million, a price-to-earnings ratio of -0.74 and a beta of 0.23. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $0.63 and its 200 day moving average price is $0.68. Longeveron has a 1 year low of $0.48 and a 1 year high of $1.83.

Longeveron (NASDAQ:LGVN) last released its earnings results on Tuesday, March 17th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.20. The company had revenue of $0.37 million for the quarter, compared to analysts’ expectations of $0.11 million. Longeveron had a negative return on equity of 199.79% and a negative net margin of 1,893.58%. On average, equities analysts forecast that Longeveron will post -3.69 EPS for the current year.

About Longeveron

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.