Longeveron Inc. (NASDAQ:LGVN) Short Interest Update

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 226,295 shares, a decline of 86.7% from the August 15th total of 1,699,946 shares. Currently, 7.7% of the company’s stock are short sold. Based on an average daily trading volume, of 94,901 shares, the short-interest ratio is currently 2.4 days.

Hedge Funds Weigh In On Longeveron

An institutional investor recently bought a new stake in Longeveron stock. XTX Topco Ltd acquired a new position in shares of Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned approximately 0.32% of Longeveron at the end of the most recent quarter. Institutional investors and hedge funds own 10.01% of the company’s stock.

Longeveron Trading Up 7.9%

NASDAQ:LGVN traded up $0.53 during trading hours on Friday, hitting $7.17. 43,919 shares of the company traded hands, compared to its average volume of 223,949. The stock has a market capitalization of $22.84 million, a price-to-earnings ratio of -0.72 and a beta of -0.25. The firm has a 50-day moving average of $6.88 and a 200 day moving average of $7.85. Longeveron has a twelve month low of $4.75 and a twelve month high of $12.30.

Longeveron (NASDAQ:LGVN) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.75) by ($0.15). Longeveron had a negative return on equity of 223.19% and a negative net margin of 1,977.59%.The company had revenue of $0.29 million for the quarter, compared to the consensus estimate of $0.33 million. Equities research analysts predict that Longeveron will post -6.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on LGVN shares. Weiss Ratings cut Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Longeveron from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.

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.