Today, some significant buzz is building around biopharmaceutical company Orphazyme (NASDAQ:ORPH). Indeed, ORPH stock is currently up big today on high volume as investors pile into this play. Currently, investors in Orphazyme have booked paper gains of 36% at the time of writing on today’s outsized move.
This biopharma play is one that has seen volatile spikes in the past. These moves are partly due to the sporadic nature of news that comes out for such companies. Indeed, Orphazyme’s focus on developing therapies for the treatment of neurodegenerative orphan diseases involves work that happens over long periods of time. Irregular updates can often provide for short-term catalysts that move this stock one direction or the other.
Today, it appears investors are latching onto Aug. 31 as a key date and running up this stock in advance of it. Let’s dive into what investors are expecting later this month.
ORPH Stock Higher on Anticipation of Interim Results
One of the factors that has been behind the moves in ORPH stock in recent days is an upcoming interim results publication. On Aug. 31, the company is expected to publish its H1 Interim Report. In this report, investors will be looking to glean any additional information supporting their position.
Indeed, today, it appears investors are factoring in some bullish announcements later this month.
Aside from progress reports, retail investors appear to be enamored with this stock. Currently, ORPH stock is seeing social media mentions soar, as investors increasingly view this company as a potential short-squeeze candidate. Indeed, it appears much of the exuberance short-squeeze plays have seen this year hasn’t completely worn off.
As with any highly speculative stock, a degree of caution should be taken by investors. Indeed, ORPH stock is likely to remain highly volatile. Thus, investors should remember to practice proper portfolio discipline in sizing positions accordingly.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.