Over the past month, Progenity (NASDAQ:PROG) has been a retail investor favorite. Indeed, shares of PROG stock have moved higher in a stair-step-like fashion over this time frame, more than tripling over the past month alone.
Accordingly, from a momentum perspective, retail investors have a lot to like with this stock. It’s a volatile one, but Progenity has not disappointed in terms of near-term returns.
Today, PROG stock has moved more than 15% higher at the time of writing on very heavy volume. At the time of writing, nearly three times the average daily number of shares have been traded. Accordingly, investors may expect to see some sort of news driving this move.
That said, today’s price action in PROG stock appears to be on no news. Rather, various speculative small-cap stocks have moved in tandem higher today on positive sentiment among these speculative plays.
Accordingly, let’s take a look at a few things investors may want to know about Progenity.
What to Know About Progenity as PROG Stock Surges Today
- Progenity is a biotech company focused on the disciplines of women’s health, gastrointestinal (GI) and oral biotherapuetics.
- The company incorporates genomics, epigenomics, proteomics and metabolomics into its process.
- By utilizing molecular testing, the company hopes to provide ingestible devices that can provide diagnostic sampling and drug delivery solutions.
- Accordingly, this stock is viewed as one with tremendous upside as a science-based innovator.
- On Oct. 13, the company announced four patents had been issued by the U.S. Patent and Trademark Office.
- These patents cover various ingestible technologies related to GI therapeutics.
- Since this announcement, shares of Progenity have continued higher on this catalyst.
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.