Longeveron Inc. (NASDAQ:LGVN) Sees Significant Growth in Short Interest

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a large increase in short interest in 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. Based on an average trading volume of 311,100 shares, the short-interest ratio is currently 2.4 days. Approximately 6.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LGVN shares. Roth Mkm initiated coverage on Longeveron in a report on Friday, December 6th. They set a “buy” rating and a $10.00 price objective on the stock. Roth Capital raised shares of Longeveron to a “strong-buy” rating in a report on Thursday, December 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Longeveron in a report on Friday, March 21st.

Institutional Investors Weigh In On Longeveron

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp bought a new position in Longeveron during the 3rd quarter valued at about $29,000. Geode Capital Management LLC increased its holdings in shares of Longeveron by 316.0% during the third 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. Virtu Financial LLC bought a new position in shares of Longeveron in the fourth quarter valued at approximately $53,000. Jane Street Group LLC acquired a new position in shares of Longeveron in the 4th quarter worth approximately $35,000. Finally, Northern Trust Corp bought a new stake in Longeveron during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 10.01% of the company’s stock.

Longeveron Stock Down 3.2 %

NASDAQ:LGVN traded down $0.05 during trading hours on Tuesday, reaching $1.50. The company had a trading volume of 133,293 shares, compared to its average volume of 3,488,446. The stock has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.82. Longeveron has a one year low of $0.77 and a one year high of $6.40. The firm has a market capitalization of $22.39 million, a PE ratio of -0.24 and a beta of 0.37.

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.