DRP Journal

Discover Research Profit

Finance 

NanoVibronix Inc (NASDAQ:NAOV) Stock Rockets To New High: What’s The Buzz?

Madison Hall , , , ,

Shares of NanoVibronix Inc (NASDAQ:NAOV) on July 22, 2021 tripled in volatile trading session, after the firm gave an optimistic report on its treatment for urinary tract infections. It surged by 204% as there were volumes of 58.8 million shares vis-à-vis average of about 204,000 shares.

NanoVibronix, a medical device company, headquartered in Elmsford, New York, with research and development in Nesher, Israel, produces UroShield and PainShield Surface Acoustic Wave Portable Ultrasonic Therapeutic Devices.

The company’s shares were halted 13 times for volatility. The firm said “The Journal of Medical & Surgical Urology” will be publishing article with positive findings from patients study using UroShield product in real world settings.

NanoVibronix Chief Executive Brian Murphy said that that patient experiences in study are significant with patients confirmed that the device is easy to use and benefited them. Murphy added that the peer-reviewed publication has been given to National Institute for Clinical Excellence.

The CEO also said that the study done in real world settings, including long-term care facilities and private residences, achieved sanguine outcomes without the need of trained clinicians and skilled care givers.

The study involved 23 patients with reoccurring UTIs being given UroShield for a minimum period of 12 weeks. The findings saw patients reporting decrease in number of UTIs and antibiotic treatment, resulting in fewer catheter blockages and less pain by the end of the study.     

Researchers at Coventry University said that UroShieldlowers the need for antibiotics with patients reporting well-being and mobility.

Market Reaction:

On Friday, NAOV stock soared 248% at $2.61 with more than 115 million shares, compared to its average volume of 2.44 million shares. The stock has moved within a range of $0.7100 – 2.6400 after opening the trade at $0.73. Over the past 52-week, the stock has been trading within a range of $0.5350 – 2.7200.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.