Today, eFFECTOR (NASDAQ:EFTR) is a stock that’s once again in focus for investors. Indeed, the weekly chart on EFTR stock is absolutely incredible.
Yesterday, this stock was a top gainer in the markets, closing 50% higher over Friday’s close. Today, this stock is once again significantly higher. Today’s gain of more than 100% at the time of writing has taken EFTR stock from around $9 at last week’s close to more than $26 at the time of writing.
This thing is going parabolic!
What’s intriguing about eFFECTOR is this pharmaceutical company recently went public via a reverse special purpose acquisition company (SPAC) merger. The company merged with Locust Walk Acquisition Corp on Aug. 26. Since then, shares went from around $15 to sub-$10 relatively quickly. Indeed, de-SPAC stocks have not really felt the love of the market recently. Accordingly, the massive upside move in EFTR stock over the past two trading days is certainly worth noting.
For those intrigued by eFFECTOR, let’s cover some things to know about this company.
What Investors May Want to Know About EFTR Stock
- eFFECTOR Therapeutics is a company “focused on pioneering the development of a new class of oncology drugs known as selective translation regulator inhibitors (STRIs).”
- The company has promised that some of the key drugs and therapies eFFECTOR is working on should be available soon.
- Accordingly, investors appear to be intrigued by biopharma plays, particularly in the oncology space of late.
- Indeed, the company hopes its STRI drugs can more effectively deal with problematic cancers.
- Investors bullish on various Food and Drug Administration (FDA) approvals seem to be buying various high-potential-upside stocks in droves of late.
- Additionally, investors seem to be hopeful that early stage companies with little name recognition can outperform.
- Since going public on Aug. 26, shares of EFTR stock are up approximately 90% at the time of writing.
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.
