Kiromic BioPharma Inc. (NASDAQ:KRBP) Stock Gains Further Momentum: Now What?
Kiromic BioPharma Inc. (NASDAQ:KRBP) jumped 14% after rising 33.65% on Monday with over 45374 shares exchanging hands less the stock’s daily average trading volume of 210,000 shares in the past 50 days. The stock is up 6.85% in the last five days, but it is down 69.83% in a month.
For the past three months, the stock has lost 62.63% of its value, and year to date, KRBP has shed 63.19%. The latest jump can be attributed to the acquisition of InSilico Solutions.
KRBP’s R&D group’s target InSilico has been in a long-term collaboration with clients at the National Cancer Institute, Johns Hopkins School of Medicine, and MD Anderson Cancer Center. Following the acquisition, Kiromic will use bioinformatics expertise in-house to expand its positioning AI tech development for optimal biomarkers identification necessary for the latest immunotherapies such as CAR-T cell therapy. For example, most CAR-T developers currently employ biomarkers with poor clinical results from old target libraries in use. So in the coming months, KRBP stock is worth keeping an eye on.
Market Reaction:
On Wednesday, KRBP stock increased 14% at $3.26 with more than 475k shares, compared to its average volume of 258k shares. The stock has moved within a range of $2.7200 – 3.3400 after opening the trade at $2.91. Over the past 52-week, the stock has been trading within a range of $2.7100 – 18.5000.
