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A few days ago I bought up iSpecimen Inc. (ISPC) as a potential twin play to Longeveron Inc. (LGVN) which has risen from $3 to as high as $45 in the matter of a few days. LGVN shot up after announcing that it was Selected by U.S. Government and Private Researchers to Supply Critical Human Biospecimens for Advanced Phase of COVID-19 Research. The stock is up another 70% in premarket trading this morning on market fears of a new COVID variant. As the market tumbles, traders are looking for small cap COVID plays and ISPC fits the bill perfectly. Another one to watch closely is GeoVax Labs, Inc. (GOVX), which is working on a universal vaccine good for variants. It's up about 17% in the premarket.
ISPC can be considered LGVN's twin because both of them were recent IPOs in the health care space over the past year, plus they have very similar floats:
ISPC has a smaller market cap, and I think it's a better deal right now because its news relates to actual revenue generating activities with contracts from government and private researchers for the fight against COVID-19.
But the real opportunity here is how each stock trades and how that trading pattern on LGVN before it broke out to $30 matches ISPC's forming pattern very closely.
Day one:
On November 18, LGVN opened at $3.72, hit a high of $8.90 but actually performed quite weak in afternoon trading and closed at $6.87, up 135% on the day. However, in the after hours market, the stock shot up to over $10.
On November 22, ISPC opened at $11.39, hit a high of $12.77 but also performed weak in the afternoon, dropping to $8.88 and closing up 80% on the day. However, in after hours trading, it shot up over $15.
On both of those days, shorts, trolls and other people who think they are smarter than they really are talked non-stop about equity offerings. Neither stock announced an equity offering and the results show in the stock price the next day.
Day two:
On November 19, LGVN opened at $11.81, a 72% spike from the previous day's close. It hit a high of $14.75 but ended up selling off the rest of the day to close at $10.03
On November 23, ISPC opened at $16.84, a 90% spike from the previous day's close. It hit a high of $18.50 but pulled back as low as $11.20 before rebounding to close at $13.19.
Day three:
On November 22, LGVN opened down at $8.71, but saw continuous buying throughout the day to close at $28.20.
On November 24, ISPC opened at similarly weak at $9.73, but didn't go on a run like LGVN did, finishing at $10.20. However, in the after hours market it hit over $15 before closing in the $12's. It has taken that momentum plus the COVD variant news to have a strong pre-market showing.
Is ISPC headed to $30 as well? So far they have been trading very similarly. They both have similar floats, are recent healthcare IPOs and have had great news recently. ISPC has the advantage of generating operating revenues right now while LGVN's revenues have been from grants and clinical trials. ISPC's current news creates expectations that it will have good revenue growth right now, while LGVN's revenues will come in the future assuming successful clinical trials and FDA approval of a marketable drug.
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