Brooklyn Immunotherapeutics (BTX) Stock Falls 20% On Profit Taking After a Big Jump

 Brooklyn Immunotherapeutics Inc (NYSEAMERICAN:BTX) stock has turned sharply lower this morning, but it should surprise traders as the stock had been going up non-stop.

After soaring all the way from $3.75 on April 1st to as high as $54.24 yesterday, the stock has pulled back to $34 level by late afternoon trading session.

Today’s fall may be due to profit booking after am 1350% jump in a matter of just one month.

This morning the company announced that it acquired an exclusive license for the mRNA gene editing and cell therapies technology of Factor Bioscience and Novellus Therapeutics, pursuant to the exercise of an option. Co intends to initiate pre-clinical development programs for sickle cell anemia, other inherited monogenic disorders, and solid and liquid tumors. Sees continued volatility.

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Undoubtedly, BTX is one of the most volatile stocks at the moment and any pullback after a strong run-up is a healthy sign. For the coming sessions, traders need to watch out if there will be any bounce in the BTX stock.

At the time of writing, BTX stock is down over 19% at $35, off the session low of $32.32.

Uson Abdilazhanov

Editor and Computer Expert A hardcore tech enthusiast and computer expert Uson Abdilazhanov who holds a degree in communications started writing in his personal blogs since 2012. That time he was interested in the technical part of the computer. But now the software aspect plays an important role in his career. Currently, he runs a PC building and repairing shop which helps a lot of designers and gamers who always like to try new things.