Longeveron Inc. (NASDAQ:LGVN) Short Interest Up 197.5% in March
by Sarita Garza · The Markets DailyLongeveron Inc. (NASDAQ:LGVN – Get Free Report) was the target of a large growth in short interest during 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. Currently, 24.0% of the shares of the company are short sold. Based on an average trading volume of 27,825,080 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Longeveron stock. XTX Topco Ltd purchased a new position in Longeveron Inc. (NASDAQ:LGVN – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 filing with the Securities and Exchange Commission (SEC). 10.01% of the stock is currently owned by hedge funds and other institutional investors.
Longeveron Price Performance
Shares of NASDAQ:LGVN traded down $0.05 during trading on Friday, hitting $0.92. 577,437 shares of the company’s stock were exchanged, compared to its average volume of 5,649,271. The business’s 50-day simple moving average is $0.65 and its 200 day simple moving average is $0.68. The company has a market cap of $19.63 million, a price-to-earnings ratio of -0.72 and a beta of 0.23. Longeveron has a 52-week low of $0.48 and a 52-week high of $1.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.33 and a quick ratio of 1.33.
Longeveron (NASDAQ:LGVN – Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.20. Longeveron had a negative return on equity of 199.79% and a negative net margin of 1,893.58%.The business had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.11 million. As a group, equities analysts predict that Longeveron will post -3.69 EPS for the current year.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Longeveron in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.00.
Read Our Latest Stock Report on LGVN
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.