Short Interest in Longeveron Inc. (NASDAQ:LGVN) Decreases By 21.2%

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 586,100 shares, a decrease of 21.2% from the January 15th total of 743,400 shares. Currently, 13.1% of the company’s stock are short sold. Based on an average daily trading volume, of 307,600 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Longeveron by 316.0% during the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after acquiring an additional 97,953 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Longeveron during the 4th quarter worth $53,000. Finally, State Street Corp bought a new stake in shares of Longeveron during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Wall Street Analyst Weigh In

LGVN has been the topic of a number of recent analyst reports. Roth Capital upgraded shares of Longeveron to a “strong-buy” rating in a report on Thursday, December 5th. Roth Mkm began coverage on shares of Longeveron in a report on Friday, December 6th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Longeveron in a report on Monday, November 25th.

Longeveron Stock Performance

Shares of LGVN stock opened at $1.57 on Friday. Longeveron has a 12-month low of $0.77 and a 12-month high of $6.40. The firm’s 50 day moving average is $1.73 and its 200 day moving average is $2.02.

Longeveron (NASDAQ:LGVN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.53) by $0.19. The business had revenue of $0.77 million for the quarter, compared to analysts’ expectations of $0.34 million. Longeveron had a negative net margin of 967.49% and a negative return on equity of 142.43%. During the same quarter last year, the company posted ($2.80) EPS. On average, analysts predict that Longeveron will post -3.69 earnings per share for the current 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 and healthy adult donors.