Enzolytics (OTCMKTS:ENZC) Stock Soars 15% in a Week: Here is Why
In the past week, Enzolytics (OTCMKTS:ENZC) has come back into the radars of many investors and that becomes apparent from the price action in the company’s stock.
Market Stats
On Monday, ENZC stock gained 1.33% at $0.1368 with more than 11.77 million shares, compared to its average volume of 14.39 million shares. The stock has moved within a range of $0.1351 – 0.1450 after opening the trade at $0.1351.
Major News
Over the course of the past week, the stock has performed strongly and managed to deliver gains of as much as 15% amidst considerable interest. Yesterday, the company was in the news once again after it made an announcement with regards to the fact it had put in place a specific protocol in order to meet its own objectives of producing monoclonal antibodies for veterinary use.
The company noted that the monoclonal antibodies are going to be put into veterinary applications through the use of Phage Display and Hybridoma Technologies. Yesterday, the company provided a detailed breakdown on how it seeks to use those two technologies for executing its protocol and it goes without saying that it was a significant announcement.
The whole thing is going to be conducted in three phases according to the announcement made yesterday by Enzolytics. It now remains to be seen if the stock continues to remain on the radars of investors or not over the course of the coming days.
Key Quote
According to the Chief Operating Officer, Dr. Gaurav Chandra, “We are utilizing Phage Display techniques for production of our Monoclonal Antibodies since the Phages are very suitable for vaccine design due to higher stability under severe environmental conditions. Additionally, they are less expensive, have potent adjuvant capacities and offer an expedited process for vaccine development. Phage Vaccines have efficient immunostimulatory effects and present a high safety profile. As a result, Enzolytics is focusing on Phage-based Vaccines for various infectious diseases. Our Phage Display techniques can be used to create novel molecules that can lead to breakthroughs in technology and medicine.”
Traders Corner
ENZC stock is trading below the 50-Day and 200-Day Moving averages of $0.15 and $0.22 respectively. However, the stock is trading above 200-Day moving average of $0.14. The stock is down 24% in the past month.
