Short Interest in Longeveron Inc. (NASDAQ:LGVN) Increases By 115.5%

Longeveron Inc. (NASDAQ:LGVN) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,280,000 shares, a growth of 115.5% from the October 15th total of 593,900 shares. Based on an average daily volume of 614,600 shares, the short-interest ratio is currently 2.1 days. Currently, 28.0% of the shares of the company are sold short.

Longeveron Stock Down 7.8 %

Longeveron stock traded down $0.18 during mid-day trading on Wednesday, hitting $2.12. The company had a trading volume of 706,920 shares, compared to its average volume of 3,857,104. The stock has a market cap of $30.44 million, a price-to-earnings ratio of -0.34 and a beta of 0.36. Longeveron has a 1 year low of $0.77 and a 1 year high of $23.90. The business has a fifty day moving average of $2.04 and a 200 day moving average of $2.11.

Longeveron (NASDAQ:LGVN) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($1.83) earnings per share for the quarter, missing the consensus estimate of ($1.03) by ($0.80). The firm had revenue of $0.47 million during the quarter, compared to analyst estimates of $0.53 million. Longeveron had a negative net margin of 967.49% and a negative return on equity of 217.69%. Equities analysts anticipate that Longeveron will post -3.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LGVN. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Longeveron in a research report on Monday, November 4th. Maxim Group dropped their price objective on shares of Longeveron from $15.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 27th.

Institutional Investors Weigh In On Longeveron

A hedge fund recently bought a new stake in Longeveron stock. Renaissance Technologies LLC bought a new stake in Longeveron Inc. (NASDAQ:LGVN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 146,700 shares of the company’s stock, valued at approximately $236,000. Renaissance Technologies LLC owned about 2.31% of Longeveron as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 10.01% of the company’s stock.

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.