Short Interest in Longeveron Inc. (NASDAQ:LGVN) Drops By 42.9%

Longeveron Inc. (NASDAQ:LGVNGet Rating) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 179,800 shares, a decrease of 42.9% from the April 30th total of 315,100 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily trading volume, of 5,010,000 shares, the days-to-cover ratio is presently 0.0 days.

Shares of Longeveron stock traded up $0.40 during trading on Friday, reaching $8.05. 154,206 shares of the stock traded hands, compared to its average volume of 3,549,454. The company has a market capitalization of $168.34 million, a price-to-earnings ratio of -9.15 and a beta of -2.05. The business has a fifty day simple moving average of $9.21 and a two-hundred day simple moving average of $10.52. Longeveron has a 52-week low of $2.84 and a 52-week high of $45.00.

Longeveron (NASDAQ:LGVNGet Rating) last issued its quarterly earnings data on Friday, May 13th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.04. Longeveron had a negative return on equity of 58.76% and a negative net margin of 1,341.85%. During the same quarter last year, the business earned ($0.18) earnings per share. On average, sell-side analysts predict that Longeveron will post -0.7 EPS for the current year.

Separately, Maxim Group initiated coverage on Longeveron in a research note on Thursday, March 24th. They issued a “buy” rating and a $14.00 price target for the company.

In other news, Director Rock Soffer sold 8,000 shares of the company’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $7.78, for a total value of $62,240.00. Following the completion of the sale, the director now directly owns 676,351 shares in the company, valued at approximately $5,262,010.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua Hare sold 19,922 shares of the company’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $10.00, for a total value of $199,220.00. Following the completion of the sale, the insider now owns 7,913,341 shares of the company’s stock, valued at $79,133,410. The disclosure for this sale can be found here. Insiders have sold a total of 35,422 shares of company stock worth $321,910 over the last three months.

Several institutional investors have recently modified their holdings of LGVN. Sassicaia Capital Advisers LLC bought a new position in shares of Longeveron in the 1st quarter valued at about $1,408,000. BlackRock Inc. bought a new position in shares of Longeveron in the 4th quarter valued at about $1,002,000. Citigroup Inc. bought a new position in shares of Longeveron in the 1st quarter valued at about $1,004,000. Gamco Investors INC. ET AL bought a new position in shares of Longeveron in the 1st quarter valued at about $449,000. Finally, Alps Advisors Inc. bought a new position in shares of Longeveron in the 4th quarter valued at about $267,000. Hedge funds and other institutional investors own 2.20% of the company’s stock.

About Longeveron (Get Rating)

Longeveron Inc, a clinical stage biotechnology company, develops cellular therapies for aging-related and life-threatening conditions. The company's lead investigational product is the LOMECEL-B, a cell-based therapy product that is derived from culture-expanded medicinal signaling cells that are sourced from bone marrow of young healthy adult donors.

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