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

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 106,796 shares, a decline of 50.0% from the September 15th total of 213,777 shares. Based on an average trading volume of 286,638 shares, the short-interest ratio is currently 0.4 days. Currently, 3.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On Longeveron

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

Analyst Ratings Changes

LGVN has been the subject of a number of research reports. Weiss Ratings cut shares of Longeveron from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, September 8th. Wall Street Zen downgraded shares of Longeveron from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Longeveron has a consensus rating of “Hold” and a consensus target price of $80.00.

Longeveron Stock Down 15.3%

Shares of NASDAQ LGVN traded down $0.33 during midday trading on Wednesday, reaching $1.82. 78,533 shares of the company were exchanged, compared to its average volume of 217,603. The stock’s 50-day moving average price is $5.45 and its 200-day moving average price is $7.18. The stock has a market cap of $5.81 million, a P/E ratio of -0.18 and a beta of -0.19. Longeveron has a one year low of $1.82 and a one year high of $12.30.

Longeveron (NASDAQ:LGVN) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($1.75) by $1.56. Longeveron had a negative return on equity of 223.19% and a negative net margin of 1,977.59%. The company had revenue of $0.29 million during the quarter, compared to analysts’ expectations of $0.33 million. On average, equities research analysts anticipate 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.