Longeveron Inc. (NASDAQ:LGVN – Get Free Report) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 91,100 shares, an increase of 224.2% from the March 31st total of 28,100 shares. Based on an average trading volume of 2,010,000 shares, the days-to-cover ratio is presently 0.0 days. Currently, 9.3% of the shares of the stock are short sold.
Insiders Place Their Bets
In other news, insider Joshua Hare acquired 106,383 shares of Longeveron stock in a transaction on Wednesday, April 10th. The shares were acquired at an average price of $2.35 per share, with a total value of $250,000.05. Following the purchase, the insider now directly owns 590,727 shares in the company, valued at approximately $1,388,208.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Rock Soffer bought 31,915 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were purchased at an average price of $2.35 per share, with a total value of $75,000.25. Following the transaction, the director now owns 208,534 shares in the company, valued at approximately $490,054.90. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Joshua Hare bought 106,383 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were bought at an average cost of $2.35 per share, for a total transaction of $250,000.05. Following the transaction, the insider now owns 590,727 shares in the company, valued at approximately $1,388,208.45. The disclosure for this purchase can be found here. Insiders have bought a total of 148,936 shares of company stock valued at $350,000 in the last quarter. 24.34% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Longeveron
A hedge fund recently bought a new stake in Longeveron stock. Armistice Capital LLC bought a new position in Longeveron Inc. (NASDAQ:LGVN – Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned 7.31% of Longeveron at the end of the most recent quarter. Institutional investors and hedge funds own 10.01% of the company’s stock.
Longeveron Trading Up 4.8 %
Longeveron (NASDAQ:LGVN – Get Free Report) last posted its quarterly earnings data on Tuesday, February 27th. The company reported ($2.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.10) by ($0.40). Longeveron had a negative net margin of 3,020.17% and a negative return on equity of 209.14%. The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $0.21 million. As a group, equities analysts predict that Longeveron will post -8.5 EPS for the current fiscal year.
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, healthy adult donors.
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