Longeveron Inc. (NASDAQ:LGVN) Sees Significant Growth in Short Interest

Longeveron Inc. (NASDAQ:LGVN) saw a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 736,800 shares, a growth of 31.7% from the February 28th total of 559,500 shares. Based on an average daily trading volume, of 311,100 shares, the days-to-cover ratio is currently 2.4 days. Currently, 6.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Longeveron

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp bought a new stake in shares of Longeveron during the 3rd quarter valued at $29,000. Northern Trust Corp bought a new position in Longeveron in the 4th quarter valued at $31,000. Jane Street Group LLC purchased a new position in shares of Longeveron during the 4th quarter valued at $35,000. Virtu Financial LLC bought a new position in shares of Longeveron in the fourth quarter worth $53,000. Finally, Geode Capital Management LLC raised its position 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 in the last quarter. Institutional investors own 10.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Longeveron in a research report on Friday, March 21st. Roth Mkm assumed coverage on Longeveron in a research note on Friday, December 6th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Roth Capital raised Longeveron to a “strong-buy” rating in a report on Thursday, December 5th.

Longeveron Trading Up 4.0 %

Shares of NASDAQ LGVN traded up $0.06 during midday trading on Wednesday, hitting $1.56. The company’s stock had a trading volume of 33,124 shares, compared to its average volume of 3,474,755. The firm has a market capitalization of $23.29 million, a price-to-earnings ratio of -0.25 and a beta of 0.37. The stock has a fifty day moving average price of $1.59 and a 200 day moving average price of $1.82. Longeveron has a one year low of $0.77 and a one year high of $6.40.

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.