PlasmaTech Biopharmaceuticals, Inc (NASDAQ: PTBI) Surges over 100% on Activist Attention

1899

PlasmaTech Biopharmaceuticals, Inc (NASDAQ: PTBI)

PlasmaTech Biopharmaceuticals is soaring higher on news that Activist Investor George Soros has taken a passive 5% stake in the company. Shares of PlasmaTech Biopharmaceuticals are currently trading higher by over 50% in the premarket on a very low float of 2.7 million.

The 13G filing can be viewed here

PlasmaTech Biopharmaceuticals creates cancer treatments for patients and plasma derived therapeutics. The company currently has a handful of different drugs in its pipeline that have very promising treatment possibilities.

Shares of Plasmatech Biopharmaceuticals prior to today were down from $23.5 a year ago, nearly a 90% decline.

As of 10:30 in New York, PTBI had traded over 11 million shares, or 4 times the outstanding float.  This float rotation is common among small cap and low float stocks when they experience breaking news.  The range of PTBI today has been 12% range.

 

ptbi3

 

By 3pm in New York $PTBI had traded over 50 million shares, or over 17 times the 2.7 million share float.  The stock was up over 150% on the day at it’s highs.  The stock no doubt provided many opportunities for traders and investors alike to profit.

Many traders recall the recent move of $VLTC which was lead by another activist investor taking a stake.  Over the next few days it will be interesting to see how $PTBI plays out.

PlasmaTech Biopharmaceuticals is a developing story and more information will be added as it becomes available.

 

 

IMAGE CREDIT

NO COMMENTS

LEAVE A REPLY