Longeveron Inc. (NASDAQ:LGVN) Short Interest Down 32.0% in December

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 669,300 shares, a decrease of 32.0% from the December 15th total of 984,900 shares. Based on an average trading volume of 468,400 shares, the days-to-cover ratio is presently 1.4 days. Approximately 15.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Several equities analysts recently commented on LGVN shares. HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Longeveron in a research note on Monday, November 25th. Roth Capital upgraded Longeveron to a “strong-buy” rating in a report on Thursday, December 5th. Finally, Roth Mkm began coverage on Longeveron in a research report on Friday, December 6th. They set a “buy” rating and a $10.00 target price for the company.

Hedge Funds Weigh In On Longeveron

Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of Longeveron during the second quarter valued at approximately $236,000. State Street Corp bought a new position in Longeveron in the 3rd quarter valued at approximately $29,000. Finally, Geode Capital Management LLC increased its holdings in Longeveron by 316.0% in the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after buying an additional 97,953 shares in the last quarter. Hedge funds and other institutional investors own 10.01% of the company’s stock.

Longeveron Stock Up 2.3 %

LGVN opened at $1.81 on Wednesday. The company’s 50-day moving average price is $1.91 and its two-hundred day moving average price is $2.22. Longeveron has a twelve month low of $0.77 and a twelve month high of $11.30. The stock has a market cap of $26.85 million, a price-to-earnings ratio of -0.29 and a beta of 0.39.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.19. Longeveron had a negative net margin of 967.49% and a negative return on equity of 142.43%. The firm had revenue of $0.77 million for the quarter, compared to the consensus estimate of $0.34 million. During the same period in the prior year, the firm posted ($2.80) earnings per share. As a group, sell-side analysts anticipate that Longeveron will post -3.69 earnings per share for the current year.

About Longeveron

Longeveron Inc, a clinical stage biotechnology company, develops cellular therapies for aging-related and life-threatening conditions in the United States and Japan. The company’s lead investigational product is the LOMECEL-B, an allogeneic mesenchymal stem cell formulation sourced from the bone marrow of young and healthy adult donors.