Longeveron Inc. (NASDAQ:LGVN – Get Free Report) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 226,295 shares, a decline of 86.7% from the August 15th total of 1,699,946 shares. Currently, 7.7% of the company’s stock are sold short. Based on an average daily trading volume, of 94,901 shares, the short-interest ratio is currently 2.4 days.
Hedge Funds Weigh In On Longeveron
An institutional investor recently bought a new stake in Longeveron stock. XTX Topco Ltd acquired a new stake in shares of Longeveron Inc. (NASDAQ:LGVN – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,003 shares of the company’s stock, valued at approximately $62,000. XTX Topco Ltd owned 0.32% of Longeveron at the end of the most recent reporting period. 10.01% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on LGVN shares. Wall Street Zen lowered shares of Longeveron from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings lowered Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $80.00.
Longeveron Trading Up 10.4%
LGVN traded up $0.69 during midday trading on Friday, reaching $7.33. The company’s stock had a trading volume of 67,299 shares, compared to its average volume of 69,131. The stock’s 50-day moving average is $6.88 and its 200-day moving average is $7.85. The firm has a market capitalization of $23.38 million, a price-to-earnings ratio of -0.74 and a beta of -0.25. Longeveron has a 1 year low of $4.75 and a 1 year high of $12.30.
Longeveron (NASDAQ:LGVN – Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported ($1.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.75) by ($0.15). The firm had revenue of $0.29 million during the quarter, compared to the consensus estimate of $0.33 million. Longeveron had a negative return on equity of 223.19% and a negative net margin of 1,977.59%. As a group, equities research analysts forecast that Longeveron will post -6.83 earnings per share for the current fiscal year.
Longeveron Company Profile
Longeveron Inc is a clinical-stage biotechnology company focused on the development and commercialization of allogeneic cellular therapies designed to address aging-related and inflammatory conditions. The company’s primary therapeutic candidate, Lomecel-B, is an off-the-shelf mesenchymal stem cell product derived from bone marrow. Through its proprietary manufacturing process, Longeveron aims to produce a consistent, scalable cell therapy platform with potential applications in multiple disease areas.
Longeveron’s pipeline encompasses several ongoing and completed clinical studies.
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