PolarityTE (NASDAQ:PTE) stock is soaring higher on Friday despite a lack of news concerning the company.
The increasing price in PTE stock comes as shares experience heavy trading today. That’s resulted in more than 36 million shares of the stock changing hands today. For comparison, the stock’s daily average trading volume is 1.71 million shares.
So why exactly are investors taking such an interest in PTE stock today? It all likely has to do with the upcoming H.C. Wainwright Virtual Bioconnect Conference. This conference is set to take place on Monday and PolarityTE will be presenting at it. Investors are likely boosting the stock up in preparation for good news at the event.
Potential investors in PTE stock may want to know a little more about the company before diving in. Luckily, we have a quick overview of PolarityTE below.
- PolarityTE is a commercial-stage biotech company focused on the research and development of regenerative tissue products.
- The company does so not by using artificial or synthetic tissue but from tissue taken from each patient.
- It was founded in 1998 and operates out of Salt Lake City, Utah.
- PolarityTE is led by CEO David Seaburg
- Prior to joining the company, he worked for 25 years at Cowen Inc (NASDAQ:COWN) under various roles.
- Those roles include managing director, head of sales trading, and as part of its Equity Operating Committee.
- The company’s current market capitalization is sitting at $53.18 million.
PTE stock was up 60.4% as of noon Friday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.