CEL-SCI Corporation (NYSE: CVM) stock is going wild as the stock has recovered very well in just a week.
On Thursday morning, the stock went up 13.50% to $22.76, extending its weekly rally to almost 45%. CVM was the hottest biotech stock in late January when the stock went up once whopping 175% on January 27th on a Reddit-driven rally, although the stock ended the session with a gain of 72%. Since then the stock went into the correction and slipped back to $13.85 by March late. Considering the solid recovery over the past few sessions looks like the momentum is back into the stock.
CVM stock may find catalyst related to moving on developments regarding its investigational therapy Multikine, which may be a potential treatment for head and neck cancer. CEL-SCI is currently finalizing its Phase 3 trial results. So, if you like to take risks and love to trade biotech stock, then CVM may be a momentum biotech play.