Longeveron Inc. (NASDAQ:LGVN) Short Interest Up 31.7% in March

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. Approximately 6.0% of the company’s stock are sold short. Based on an average daily volume of 311,100 shares, the short-interest ratio is presently 2.4 days.

Longeveron Stock Up 4.0 %

LGVN stock traded up $0.06 during mid-day trading on Wednesday, reaching $1.56. 33,124 shares of the company traded hands, compared to its average volume of 3,474,755. The firm’s 50 day moving average price is $1.59 and its 200 day moving average price is $1.82. The stock has a market cap of $23.29 million, a price-to-earnings ratio of -0.25 and a beta of 0.37. Longeveron has a fifty-two week low of $0.77 and a fifty-two week high of $6.40.

Hedge Funds Weigh In On Longeveron

Large investors have recently bought and sold shares of the stock. State Street Corp purchased a new stake in shares of Longeveron in the third quarter valued at about $29,000. Geode Capital Management LLC increased its stake in Longeveron by 316.0% in the 3rd quarter. Geode Capital Management LLC now owns 128,947 shares of the company’s stock valued at $250,000 after buying an additional 97,953 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Longeveron during the 4th quarter worth approximately $53,000. Northern Trust Corp purchased a new position in shares of Longeveron in the 4th quarter worth approximately $31,000. Finally, Jane Street Group LLC bought a new position in shares of Longeveron in the fourth quarter valued at approximately $35,000. 10.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LGVN. Roth Capital upgraded Longeveron to a “strong-buy” rating in a research note on Thursday, December 5th. HC Wainwright restated a “buy” rating and set a $10.00 price objective on shares of Longeveron in a report on Friday, March 21st. Finally, Roth Mkm started coverage on Longeveron in a report on Friday, December 6th. They issued a “buy” rating and a $10.00 target price on the stock.

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.