- Aditxt, Inc. (ADTX) stock was up 71.68% at 1:00 pm ET on Wednesday.
- Zomedica Corp. (ZOM) soared 25.07% at 1:01 pm ET.
- Both the companies saw massive trading volumes on Wednesday.
Stocks of Aditxt, Inc. (NASDAQ: ADTX) and Zomedica Corp. (AMEX: ZOM) jumped more than 71% and 25%, respectively, on Wednesday.
The Aditxt stock was trading at US$3.3992, up 71.68% at 1:00 pm ET, while Zomedica stock was priced at US$0.6371, up 25.07% at 1:01 pm ET.
We explore some of the recent developments of the two companies that may have drawn investors’ attention to the stocks on Wednesday.
On Wednesday, the biotech company announced plans to acquire the biopharmaceutical firm Target Company, currently commercializing an oral antiviral covid therapy for emergency use.
In a letter of intent, Aditxt proposed a US$6.5 million secured loan to Target Company by Aug 31 and issuing common stock amounting to half of Aditxt post-closing outstanding shares.
The stock touched a high of US$6.73 and a low of US$1.62 in the last 52 weeks. The stock closed at US$1.98 with a share volume of 153,636 on Wednesday.
Aditxt’s market cap is US$52.88 million, and the forward P/E ratio for one year is 9.00. It has 14.69 million outstanding shares.
The company recorded no revenue in the June quarter. However, its net loss was US$6.2 million or US$0.42 per share diluted, compared to a net loss of US$0.534 million or US$0.14 per share diluted in the same quarter the previous year.
Aditxt, founded in 2017, launched its IPO in June 2020. The stock gave a 54.33% return YTD.
Source – pixabay
The ZOM stock saw a high trading volume on Wednesday for no apparent reason.
The 52-week highest and lowest stock prices of this veterinary health product company were US$2.91 and US$0.06, respectively. Wednesday’s trading volume was 20,325,590.
On Aug 24, 2021, the stock closed at US$0.5094. It has a market capitalization of US$623 million. The company has a total of 979.73 million outstanding shares.
The company’s June quarter revenue was US$15,693. In the same period of 2020, it had earned no revenue. Its net loss was US$4.7 million or US$0.005 per share diluted in the quarter, against US$5.3 million or US$0.02 per share diluted in the same quarter of 2020. Zomedica was founded in 2013. Its IPO came in October 2013. The stock gave a 166.44% return YTD.
The healthcare sector saw robust gains in the past two quarters. These two penny stocks may gain from the increased government investment in healthcare amid the covid concerns. Moreover, experts anticipate solid gains in the healthcare sector in the coming months, driven by faster FDA approvals and new vaccine trials.