Longeveron Inc. (NASDAQ:LGVN) Shares Shorted: Short Interest Down 50.0% in September

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a large decrease in short interest in the month of 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. Based on an average trading volume of 286,638 shares, the days-to-cover ratio is currently 0.4 days. Approximately 3.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LGVN shares. Weiss Ratings downgraded shares of Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, September 8th. Wall Street Zen cut shares of Longeveron from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One investment 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. Based on data from MarketBeat, Longeveron currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Institutional Investors Weigh In On Longeveron

A hedge fund recently bought a new position in Longeveron stock. ADAR1 Capital Management LLC bought a new position in shares of Longeveron Inc. (NASDAQ:LGVN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 200,000 shares of the company’s stock, valued at approximately $208,000. ADAR1 Capital Management LLC owned about 0.86% of Longeveron as of its most recent SEC filing. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Longeveron Trading Down 15.3%

LGVN stock traded down $0.33 during trading on Wednesday, hitting $1.82. The company had a trading volume of 78,533 shares, compared to its average volume of 217,603. The business has a 50-day moving average of $5.45 and a 200-day moving average of $7.18. Longeveron has a one year low of $1.82 and a one year high of $12.30. The stock has a market cap of $5.81 million, a PE ratio of -0.18 and a beta of -0.19.

Longeveron (NASDAQ:LGVN) last released 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. 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 during the quarter, compared to the consensus estimate of $0.33 million. Research analysts forecast that Longeveron will post -7.20 EPS for the current year.

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.