Coeptis Therapeutics (NASDAQ:COEP) stock is climbing higher on Monday despite a lack of news from the drug company.
Investors searching for the reason why COEP stock is up today won’t find much news. The company hasn’t put out a press release or filing that explains why shares are climbing higher on Monday.
Instead, it looks like heavy trading volume is behind today’s gains. As of this writing, more than 1.5 million shares have changed hands. That’s a massive increase in trading volume compared to the company’s daily average of only about 109,000 shares.
Investors will keep in mind that COEP is a penny stock. That comes from its low average trading volume as well as its market capitalization of around $29 million and closing share price of $1.48 on Friday. This means it’s subject to volatility, especially in pre-market trading.
What Is Coeptis Therapeutics?
Coeptis Therapeutics is focused on the development and marketing of pharmaceuticals. That includes both branded and generic drugs. This sees it selling its drugs across both retail and non-retail prescription drug channels.
Coeptis Therapeutics was founded in 2017 and operates out of its headquarters in Wexford, PA. The company went public in late October 2022 through a business combination with special purpose acquisition company (SPAC) Bull Horn.
COEP stock is up 13.5% during pre-market trading on Monday!
Investors seeking out more of the latest stock market news are in luck!
We’ve got all of the latest stock market news worth checking out on Monday! Among that is the biggest pre-market stock movers this morning, as well as the latest concerning Virgin Orbit (NASDAQ:VORB) and more. You can find all of that news at the following links!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- VORB Stock: Cost to Borrow Virgin Orbit Nearly Doubles
- 3 Investors Betting Big on Block (SQ) Stock
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Read More: Penny Stocks — How to Profit Without Getting Scammed
On the date of publication, William White 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.