Longeveron Inc. (NASDAQ:LGVN) Short Interest Down 32.0% in December

by · The Cerbat Gem

Longeveron Inc. (NASDAQ:LGVN – Get Free Report) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 669,300 shares, a drop of 32.0% from the December 15th total of 984,900 shares. Based on an average daily volume of 468,400 shares, the days-to-cover ratio is currently 1.4 days. Approximately 15.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

LGVN has been the topic of several recent analyst reports. Roth Mkm started coverage on Longeveron in a research report on Friday, December 6th. They set a “buy” rating and a $10.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Longeveron in a report on Monday, November 25th. Finally, Roth Capital upgraded shares of Longeveron to a “strong-buy” rating in a research note on Thursday, December 5th.

Check Out Our Latest Research Report on Longeveron

Hedge Funds Weigh In On Longeveron

A number of institutional investors have recently bought and sold shares of the business. State Street Corp purchased a new stake in shares of Longeveron in the 3rd quarter valued at $29,000. Geode Capital Management LLC boosted its stake in shares of Longeveron by 316.0% in the third quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after buying an additional 97,953 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Longeveron during the second quarter valued at approximately $236,000. 10.01% of the stock is owned by hedge funds and other institutional investors.

Longeveron Stock Performance

LGVN stock traded down $0.06 during midday trading on Friday, reaching $1.70. The stock had a trading volume of 168,673 shares, compared to its average volume of 314,650. The firm has a fifty day simple moving average of $1.90 and a two-hundred day simple moving average of $2.21. Longeveron has a 52-week low of $0.77 and a 52-week high of $11.00. The stock has a market cap of $25.23 million, a PE ratio of -0.27 and a beta of 0.39.

Longeveron (NASDAQ:LGVN – Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.19. Longeveron had a negative return on equity of 142.43% and a negative net margin of 967.49%. The firm had revenue of $0.77 million during the quarter, compared to analysts’ expectations of $0.34 million. During the same period last year, the business posted ($2.80) earnings per share. On average, sell-side analysts predict that Longeveron will post -3.69 EPS for the current fiscal year.

About Longeveron

(Get Free Report)

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.

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