Longeveron Inc. (NASDAQ:LGVN – Get Rating) saw a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 45,200 shares, a drop of 20.0% from the June 15th total of 56,500 shares. Approximately 1.2% of the company’s shares are sold short. Based on an average daily trading volume, of 753,600 shares, the days-to-cover ratio is presently 0.1 days.
Longeveron Stock Up 2.2 %
Shares of NASDAQ:LGVN opened at $6.43 on Wednesday. The firm’s 50 day moving average price is $7.07 and its 200 day moving average price is $7.91. Longeveron has a fifty-two week low of $2.84 and a fifty-two week high of $45.00.
Longeveron (NASDAQ:LGVN – Get Rating) last released its quarterly earnings data on Friday, May 13th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.04. Longeveron had a negative net margin of 1,341.85% and a negative return on equity of 58.76%. The company had revenue of $0.37 million for the quarter, compared to analysts’ expectations of $0.30 million. During the same quarter last year, the company earned ($0.18) earnings per share. Analysts expect that Longeveron will post -0.7 EPS for the current fiscal year.
Insiders Place Their Bets
In other Longeveron news, Director Rock Soffer sold 8,000 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $7.78, for a total transaction of $62,240.00. Following the completion of the transaction, the director now owns 676,351 shares of the company’s stock, valued at $5,262,010.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Rock Soffer sold 8,000 shares of the stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $7.78, for a total transaction of $62,240.00. Following the sale, the director now owns 676,351 shares of the company’s stock, valued at $5,262,010.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James Clavijo sold 36,955 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $8.26, for a total transaction of $305,248.30. Following the sale, the chief financial officer now directly owns 79,619 shares in the company, valued at approximately $657,652.94. The disclosure for this sale can be found here. Insiders sold a total of 52,455 shares of company stock valued at $427,938 over the last 90 days. 41.57% of the stock is owned by company insiders.
Institutional Trading of Longeveron
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Longeveron by 17.5% during the first quarter. Vanguard Group Inc. now owns 115,865 shares of the company’s stock worth $1,599,000 after acquiring an additional 17,229 shares during the last quarter. Anson Funds Management LP purchased a new position in shares of Longeveron during the first quarter worth approximately $276,000. Alps Advisors Inc. purchased a new position in shares of Longeveron during the fourth quarter worth approximately $267,000. Gamco Investors INC. ET AL purchased a new position in shares of Longeveron during the first quarter worth approximately $449,000. Finally, Citigroup Inc. purchased a new position in shares of Longeveron during the first quarter worth approximately $1,004,000. Institutional investors and hedge funds own 2.20% of the company’s stock.
Analyst Ratings Changes
Separately, Maxim Group assumed coverage on shares of Longeveron in a report on Thursday, March 24th. They issued a “buy” rating and a $14.00 target price on the stock.
Longeveron Company Profile (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.