Heat Biologics (NASDAQ:HTBX) is in the news Thursday as HTBX stock takes a wild ride.
During the early hours of trading, Heat Biologics saw HTBX stock taking off. That’s despite no new news coming from the company. Instead, it appears that the rise was in connection to an increasing trade volume.
As of Thursday afternoon, Heat Biologics has moved a total of 35.71 million shares. That’s a significant increase over the company’s normal average daily trading volume of 32.46 million shares.
So what exactly has investors trading shares of HTBX stock today? It’s possible that the company is experiencing a surge of interest as stocks connected to the novel coronavirus see additional attention of late.
The extra attention on coronavirus stocks comes as President Donald Trump and the Centers for Disease Control and Prevention (CDC) argue over vaccine timing. President Trump claims that the vaccines will be ready this fall, but CDC chief Robert Redfield says those vaccines won’t be ready until the middle of next year.
Heat Biologics is among the many companies that are racing to create a coronavirus vaccine. It announced pre-trail results last month that are promising. That includes the ability to fight off the coronavirus, as well as possible mutations and other pathogens.
Heat Biologics started out down Thursday before rising higher to a peak increase of 8% in morning trading. However, the stock has since fallen and is now down 2.8% as of the afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.