BiondVax Pharmaceuticals (BVXV) Stock Jumps To Monthly High: A Bullish Sign?
If a stock makes a big move despite there being any news about the company, then investors need not be confused and instead they need to look into previous news regarding the company in order to get a better idea.
The BiondVax Pharmaceuticals Ltd (NASDAQ:BVXV) pharmaceutical stock was in the middle of a big move on Tuesday and ended up clocking gains of as much as 27%. While it is true that there was no news about the company yesterday, investors could take a look at the company’s performance in the first quarter. The results for the quarter had been announced by BiondVax Pharmaceuticals back on June 23.
In the quarter that ended on March 31, 2021, the Israeli company managed to reduce its operating expenses to NIS (New Israel Shekels) 6.7 million and that reflects a considerable reduction from the NIS 20 million that it had spent in the prior year period. In this regard, it should also be noted that NIS 2.75 million from out of the total operating expenses actually went towards research and development efforts undertaken by BiondVax Pharmaceuticals. In the prior year period, the research and development expenses had stood at NIS 19 million.
Market Reaction:
On Tuesday, BVXV stock soared 27% at $3.44 with more than 22.52 million shares, compared to its average volume of 87k shares. The stock has moved within a range of $2.5800 – 4.0400 after opening the trade at $2.77. Over the past 52-week, the stock has been trading within a range of $2.2800 – 49.8960.
