After successful phase 3 data on treatment for colon infections Seres Therapeutics (NASDAQ: MCRB) rockets more than fivefold. As many investors flock in its shares may go up to 100 million or more. From $4.64 to $28.22 rise is a phenomenal moment for any penny stock. A limited number of stockholders are enjoying this news and might sell now with over 500% margin.
Let’s recall, MCRB has been stock with flat prices within $3 and $5. No one would buy it except loyal stakeholders who believed in its upcoming success.
Perhaps, phase 4 may start as soon as phase 3 data becomes strong enough to store in a safe place. Quite a lot of traders might be thinking of phase 4 success and instant jump of shares as well.