Longeveron Inc. (NASDAQ:LGVN) Short Interest Update

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 736,800 shares, an increase of 31.7% from the February 28th total of 559,500 shares. Approximately 6.0% of the shares of the company are sold short. Based on an average trading volume of 311,100 shares, the days-to-cover ratio is currently 2.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LGVN. State Street Corp acquired a new stake in Longeveron during the third quarter worth about $29,000. Geode Capital Management LLC boosted its position in shares of Longeveron by 316.0% during the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock worth $250,000 after acquiring an additional 97,953 shares in the last quarter. Virtu Financial LLC bought a new position in Longeveron in the fourth quarter valued at approximately $53,000. Northern Trust Corp acquired a new position in Longeveron during the fourth quarter valued at approximately $31,000. Finally, Jane Street Group LLC bought a new stake in Longeveron during the fourth quarter worth $35,000. Institutional investors and hedge funds own 10.01% of the company’s stock.

Analyst Upgrades and Downgrades

LGVN has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Longeveron in a report on Friday, March 21st. Roth Mkm started coverage on Longeveron in a report on Friday, December 6th. They set a “buy” rating and a $10.00 target price for the company. Finally, Roth Capital upgraded shares of Longeveron to a “strong-buy” rating in a research note on Thursday, December 5th.

Longeveron Price Performance

Longeveron stock traded down $0.03 during mid-day trading on Monday, reaching $1.55. 167,149 shares of the company were exchanged, compared to its average volume of 3,488,332. The company has a fifty day simple moving average of $1.60 and a 200-day simple moving average of $1.82. The firm has a market cap of $23.14 million, a PE ratio of -0.25 and a beta of 0.37. Longeveron has a 12 month low of $0.77 and a 12 month high of $6.40.

Longeveron Company Profile

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.