Longeveron Inc. (NASDAQ:LGVN) Short Interest Up 197.5% in March

Longeveron Inc. (NASDAQ:LGVN) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 4,553,371 shares, a growth of 197.5% from the February 26th total of 1,530,744 shares. Based on an average trading volume of 27,825,080 shares, the short-interest ratio is currently 0.2 days. Currently, 24.0% of the company’s shares are sold short.

Longeveron Stock Down 8.9%

NASDAQ LGVN traded down $0.09 during mid-day trading on Friday, hitting $0.89. The company’s stock had a trading volume of 307,317 shares, compared to its average volume of 5,644,531. The firm has a market capitalization of $18.90 million, a price-to-earnings ratio of -0.69 and a beta of 0.23. The company’s 50 day simple moving average is $0.65 and its 200 day simple moving average is $0.68. Longeveron has a twelve month low of $0.48 and a twelve month high of $1.83. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.03.

Longeveron (NASDAQ:LGVN) last released its quarterly earnings results on Tuesday, March 17th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.20. The business had revenue of $0.37 million during the quarter, compared to the consensus estimate of $0.11 million. Longeveron had a negative return on equity of 199.79% and a negative net margin of 1,893.58%. Analysts anticipate that Longeveron will post -3.69 earnings per share for the current year.

Institutional Investors Weigh In On Longeveron

A hedge fund recently bought a new stake in Longeveron stock. XTX Topco Ltd bought a new stake in Longeveron Inc. (NASDAQ:LGVN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned approximately 0.32% of Longeveron as of its most recent SEC filing. 10.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Longeveron in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.00.

About Longeveron

Longeveron Inc is a clinical-stage biotechnology company focused on the development and commercialization of allogeneic cellular therapies designed to address aging-related and inflammatory conditions. The company’s primary therapeutic candidate, Lomecel-B, is an off-the-shelf mesenchymal stem cell product derived from bone marrow. Through its proprietary manufacturing process, Longeveron aims to produce a consistent, scalable cell therapy platform with potential applications in multiple disease areas.

Longeveron’s pipeline encompasses several ongoing and completed clinical studies.