Brooklyn ImmunoTherapeutics (BTX) Stock Slumps 23% in a Week: Time To Buy Now?
The Brooklyn ImmunoTherapeutics (NYSEAMERICAN:BTX) stock has had a difficult over the course of the past week and during that period; it has gone down by 23%. In this scenario, it is probably important for investors to figure out if this is an opportunity to get into the stock or not.
There has been no news this morning regarding Brooklyn ImmunoTherapeutics but earlier on this week the company announced that Howard J. Federoff, its Chief Executive Officer, was going to make a company overview presentation at the Access to Giving Virtual Investor Conference. The conference started on July 13 and is going to come to an end today. Federoff is actually going to make his presentation at 9 a.m. Eastern Time today.
While investors could do well to keep an eye on any key announcements from Federoff at his presentation today, it is necessary to remember that earlier this week the company also announced a key appointment. Earlier on this week on Tuesday, Brooklyn ImmunoTherapeutics announced that it appointed Jay Sial as its new Chief Administrative Officer. The appointment is going to become effective today. In light of two such developments today, it is going to be interesting to see if it results in any kind of recovery in the stock.
Market Reaction:
As of 12:15, BTX stock fell 14% at $10.35 with more than 1.93 million shares, compared to its average volume of 7.72 million shares. The stock has moved within a range of $10.00 – 11.83 after opening the trade at $11.77. Over the past 52-week, the stock has been trading within a range of $3.04 – 80.67.
