Longeveron Inc LGVN shares traded upwards of 50% Monday after the company announced they submitted paperwork for a share offering and announced CEO Wa’el Hashad’s letter to shareholders marking his first year anniversary.
The letter to shareholders emphasized its focus on developing Lomecel-B™ for treating diseases like Hypoplastic Left Heart Syndrome (HLHS) and Alzheimer’s Disease.The success of their Phase 1 trial for HLHS and ongoing Phase 2 trials was also highlighted. Additionally, the letter discussed progress in Alzheimer’s research and strategic collaborations for funding. Longeveron plans to optimize resources, pursue partnerships, and enhance manufacturing capabilities.
Financially, the company said it is seeking additional capital through initiatives like a reverse stock split and registration statement. The company aims to meet operational goals in 2024, including fully enrolling their Phase 2 study for HLHS. They also expressed gratitude to stakeholders and commitment to advancing therapies for patients.
How To Buy LGVN Stock
By now you're likely curious about how to participate in the market for Longeveron – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of Longeveron, which is trading at $3.44 as of publishing time, $100 would buy you 29.07 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
According to data from Benzinga Pro, LGVN has a 52-week high of $44.00 and a 52-week low of $1.83.
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