Longeveron Inc. (NASDAQ:LGVN) shares are trading higher Thursday, and the stock is up more than 200% this week. Here’s a look at what’s going on.
What To Know:
Longeveron shares climbed more than 150% Wednesday after Zacks Small Cap Research issued a report on the company with a $15.10 price valuation.
Longeveron signed its first contract for its advanced manufacturing facility in early June, which is expected to generate between $4 million and $5 million in annual revenue.
The company also announced a successful meeting with investigators in its ongoing Phase 2b clinical trial for Lomecel-B on Tuesday and said the trial is on track to complete enrollment by the end of 2024.
Longeveron shares are moving on heavy trading volume with more than 135 million shares already changing hands in Thursday session, according to data from Benzinga Pro.
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Should I Sell My LGVN Stock?
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Longeveron have decreased by 89.55% in the past year. An investor who bought shares of Longeveron at the beginning of the year would take a loss of $9.50 per share if they sold it today. The stock has risen 176.11% over the past month, meaning an investor who bought shares on May 1 would see a capital gain of $1.89.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Longeveron stock currently has an RSI of 79.94, indicating overbought conditions.
For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.
LGVN Price Action: According to Benzinga Pro, Longeveron shares are up 70.7% at $3.09 at the time of publication Thursday.
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