Short Interest in Longeveron Inc. (NASDAQ:LGVN) Decreases By 28.8%

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 733,500 shares, a drop of 28.8% from the August 15th total of 1,030,000 shares. Based on an average trading volume of 10,480,000 shares, the days-to-cover ratio is presently 0.1 days. Currently, 16.1% of the shares of the stock are short sold.

Analyst Ratings Changes

LGVN has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Longeveron in a research note on Wednesday, September 4th. Maxim Group lowered their target price on Longeveron from $15.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th.

Longeveron Stock Up 3.0 %

Shares of Longeveron stock traded up $0.06 on Friday, hitting $2.08. The stock had a trading volume of 463,375 shares, compared to its average volume of 4,659,599. Longeveron has a one year low of $0.77 and a one year high of $26.70. The stock’s 50-day simple moving average is $2.74 and its two-hundred day simple moving average is $2.51. The stock has a market cap of $13.21 million, a price-to-earnings ratio of -0.22 and a beta of 0.37.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings results on Wednesday, August 14th. The company reported ($1.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.80). The firm had revenue of $0.47 million during the quarter, compared to the consensus estimate of $0.53 million. Longeveron had a negative return on equity of 237.57% and a negative net margin of 1,513.83%. As a group, equities analysts predict that Longeveron will post -3.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Longeveron stock. Armistice Capital LLC acquired a new position in Longeveron Inc. (NASDAQ:LGVN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,836,000 shares of the company’s stock, valued at approximately $2,497,000. Armistice Capital LLC owned approximately 7.31% of Longeveron at the end of the most recent quarter. 10.01% of the stock is owned by institutional investors and hedge funds.

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 and healthy adult donors.