Longeveron Inc. (NASDAQ:LGVN) Sees Significant Decline in Short Interest

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

Analysts Set New Price Targets

Several research firms have issued reports on LGVN. Weiss Ratings lowered Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, September 8th. Wall Street Zen cut 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $80.00.

Longeveron Stock Down 7.3%

LGVN stock traded down $0.11 during midday trading on Friday, reaching $1.39. The company had a trading volume of 66,037 shares, compared to its average volume of 216,961. The firm has a market capitalization of $4.43 million, a PE ratio of -0.14 and a beta of -0.19. The stock has a 50 day moving average price of $5.21 and a 200 day moving average price of $7.07. Longeveron has a fifty-two week low of $1.36 and a fifty-two week high of $12.30.

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

Institutional Investors Weigh In On Longeveron

An institutional investor recently bought a new stake in Longeveron stock. ADAR1 Capital Management LLC bought a new position in shares of Longeveron Inc. (NASDAQ:LGVN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 200,000 shares of the company’s stock, valued at approximately $208,000. ADAR1 Capital Management LLC owned 0.86% of Longeveron as of its most recent SEC filing. Institutional investors and hedge funds own 10.01% of the company’s stock.

Longeveron Company Profile

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.