Longeveron Inc. (NASDAQ:LGVN) Short Interest Update

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,280,000 shares, an increase of 115.5% from the October 15th total of 593,900 shares. Approximately 28.0% of the company’s shares are short sold. Based on an average daily trading volume, of 614,600 shares, the short-interest ratio is currently 2.1 days.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LGVN shares. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Longeveron in a research report on Monday, November 4th. Maxim Group decreased their price target on shares of Longeveron from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Longeveron stock. Renaissance Technologies LLC acquired a new stake in Longeveron Inc. (NASDAQ:LGVN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 146,700 shares of the company’s stock, valued at approximately $236,000. Renaissance Technologies LLC owned about 2.31% of Longeveron at the end of the most recent reporting period. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Longeveron Trading Down 7.8 %

Shares of Longeveron stock traded down $0.18 during trading hours on Wednesday, reaching $2.12. The stock had a trading volume of 706,920 shares, compared to its average volume of 3,857,104. Longeveron has a 1 year low of $0.77 and a 1 year high of $23.90. The firm has a market capitalization of $30.44 million, a price-to-earnings ratio of -0.34 and a beta of 0.36. The firm has a 50 day simple moving average of $2.04 and a two-hundred day simple moving average of $2.11.

Longeveron (NASDAQ:LGVN) last issued its earnings results on Wednesday, August 14th. The company reported ($1.83) EPS for the quarter, missing analysts’ consensus estimates of ($1.03) by ($0.80). Longeveron had a negative net margin of 967.49% and a negative return on equity of 217.69%. The business had revenue of $0.47 million during the quarter, compared to analysts’ expectations of $0.53 million. Sell-side analysts forecast that Longeveron will post -3.89 EPS for the current year.

Longeveron Company Profile

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.