Short Interest in Longeveron Inc. (NASDAQ:LGVN) Increases By 31.7%

Longeveron Inc. (NASDAQ:LGVN) was the recipient of a significant 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 days-to-cover ratio is currently 2.4 days. Currently, 6.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp acquired a new position in Longeveron in the 3rd quarter valued at approximately $29,000. Northern Trust Corp bought a new stake in shares of Longeveron in the fourth quarter worth $31,000. Jane Street Group LLC acquired a new stake in Longeveron in the fourth quarter valued at $35,000. Virtu Financial LLC bought a new position in Longeveron during the 4th quarter worth $53,000. Finally, Geode Capital Management LLC raised its position in 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 purchasing an additional 97,953 shares during the last quarter. Institutional investors own 10.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Longeveron Stock Down 1.9 %

Longeveron stock traded down $0.03 during trading hours on Monday, hitting $1.55. The stock had a trading volume of 167,149 shares, compared to its average volume of 3,488,332. The stock has a market cap of $23.14 million, a price-to-earnings ratio of -0.25 and a beta of 0.37. The business’s 50 day simple moving average is $1.60 and its 200-day simple moving average is $1.82. Longeveron has a one year low of $0.77 and a one year high of $6.40.

About Longeveron

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.