Longeveron Inc. (NASDAQ:LGVN) Sees Large Drop in Short Interest

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 106,796 shares, a decrease of 50.0% from the September 15th total of 213,777 shares. Approximately 3.6% of the company’s stock are sold short. Based on an average daily volume of 286,638 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analysts Forecast Growth

LGVN has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Longeveron from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Weiss Ratings lowered shares of Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 8th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.00.

Institutional Trading of Longeveron

A hedge fund recently bought a new position in Longeveron stock. ADAR1 Capital Management LLC acquired a new position in Longeveron Inc. (NASDAQ:LGVN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 200,000 shares of the company’s stock, valued at approximately $208,000. ADAR1 Capital Management LLC owned 0.86% of Longeveron at the end of the most recent reporting period. Institutional investors own 10.01% of the company’s stock.

Longeveron Trading Down 13.3%

Longeveron stock traded down $0.23 during trading hours on Thursday, reaching $1.50. 150,372 shares of the stock were exchanged, compared to its average volume of 217,722. The stock has a 50 day moving average of $5.34 and a two-hundred day moving average of $7.13. Longeveron has a twelve month low of $1.37 and a twelve month high of $12.30. The company has a market cap of $4.79 million, a P/E ratio of -0.15 and a beta of -0.19.

Longeveron (NASDAQ:LGVN) last issued its earnings results on Wednesday, August 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.75) by $1.56. The firm had revenue of $0.29 million for the quarter, compared to the consensus estimate of $0.33 million. Longeveron had a negative return on equity of 223.19% and a negative net margin of 1,977.59%. On average, analysts expect that Longeveron will post -7.20 earnings per share for the current fiscal year.

About Longeveron

Longeveron Inc (NASDAQ: LGVN) is a clinical-stage biotechnology company focused on developing regenerative medicines intended to address conditions associated with aging, life-threatening diseases and other serious medical needs. The company’s research centers on allogeneic medicinal signaling cells (MSCs), a type of adult stem cell derived from the bone marrow of healthy donors.

Longeveron’s lead investigational product is Lomecel-B, an MSC-based cell therapy being studied in several disease areas.