Why Is Blue Water Vaccines (BWV) Stock Up Today?


Ohio-based biotechnology company Blue Water Vaccines (NASDAQ:BWV) saw its share price skyrocket today. Indeed, BWV stock closed up 93% for the day, for little apparent reason. The vaccine maker’s share price has been the subject of substantial volatility since the stock first debuted in February.

A needle rests on a reflective table next two clear glass vials of a clear liquid.
Source: Shutterstock

What do you need to know about BWV stock?

Well, today marks another strange milestone for Blue Water Vaccines. Specifically, the biotech firm — perhaps best known for its preclinical influenza vaccine candidate — has had a few interesting developments in the past month which may be behind the jump.

On April 21, the company presented at the World Vaccine Congress 2022, in Washington, DC. Blue Water used the opportunity to offer data supporting its influenza vaccine candidate. CEO Joseph Hernandez spoke about the company’s progress:

“The large seasonal burden of influenza warrants the development of improved vaccines […] This data for H3N2 and influenza B epitopes supports our commitment to develop a vaccine that provides broad protection against all strains and eliminating the need for annual immunization. We are excited to continue our collaboration with The University of Oxford and move forward with this research supporting one of our lead vaccine candidates.”

So, what else do you need to know about BWV?

BWV Stock Soars on No News

Per the World Health Organization (WHO), there continue to be more than 1 billion influenza infections each year, millions of which are considered severe. As such, Blue Water’s recent presentation could be playing a role in the company’s jump this Tuesday.

With that said, BWV stock is also unabashedly volatile. When the stock first entered April, it shot up as high as $63 before plummeting later in the week. Currently, the company trends around $6.45 per share.

It remains unclear exactly why Blue Water jumped. However, given the uncertain state of the markets lately, that shouldn’t come as much of a shock to biotech investors.

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Shrey Dua did not hold (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.

With degrees in economics and journalism, Shrey Dua leverages his ample experience in media and reporting to contribute well-informed articles covering everything from financial regulation and the electric vehicle industry to the housing market and monetary policy. Shrey’s articles have featured in the likes of Morning Brew, Real Clear Markets, the Downline Podcast, and more.

Article printed from InvestorPlace Media, https://investorplace.com/2022/05/why-is-blue-water-vaccines-bwv-stock-up-today/.

©2023 InvestorPlace Media, LLC