Short Interest in Longeveron Inc. (NASDAQ:LGVN) Drops By 86.7%

Longeveron Inc. (NASDAQ:LGVN) saw a large decline in short interest in 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. Approximately 7.7% of the company’s stock are sold short. Based on an average daily volume of 94,901 shares, the short-interest ratio is presently 2.4 days.

Longeveron Price Performance

LGVN stock opened at $7.33 on Friday. The stock has a market capitalization of $23.38 million, a P/E ratio of -0.74 and a beta of -0.25. Longeveron has a 1-year low of $4.75 and a 1-year high of $12.30. The business has a fifty day moving average price of $6.88 and a 200-day moving average price of $7.85.

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

Wall Street Analyst Weigh In

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

Institutional Trading of Longeveron

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

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.