Short Interest in Longeveron Inc. (NASDAQ:LGVN) Rises By 22.9%
by Tristan Rich · The Markets DailyLongeveron Inc. (NASDAQ:LGVN – Get Free Report) was the target of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,530,744 shares, an increase of 22.9% from the February 12th total of 1,245,318 shares. Approximately 8.1% of the shares of the company are short sold. Based on an average daily trading volume, of 597,234 shares, the short-interest ratio is currently 2.6 days. Based on an average daily trading volume, of 597,234 shares, the short-interest ratio is currently 2.6 days. Approximately 8.1% of the shares of the company are short sold.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Longeveron in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.50.
Read Our Latest Stock Report on LGVN
Longeveron Stock Performance
Shares of NASDAQ:LGVN traded up $0.09 during trading on Tuesday, reaching $0.97. The company had a trading volume of 3,017,865 shares, compared to its average volume of 6,300,650. The firm’s fifty day moving average is $0.59 and its 200 day moving average is $0.67. The firm has a market capitalization of $20.75 million, a PE ratio of -0.91 and a beta of 0.23. Longeveron has a twelve month low of $0.48 and a twelve month high of $1.92.
Hedge Funds Weigh In On Longeveron
An institutional investor recently bought a new position in Longeveron stock. XTX Topco Ltd purchased a new stake in shares of Longeveron Inc. (NASDAQ:LGVN – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned 0.32% of Longeveron as of its most recent filing with the Securities and Exchange Commission. 10.01% of the stock is owned by institutional investors.
Longeveron Company Profile
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.