NKGen Biotech (NASDAQ:NKGN) stock is soaring higher on Wednesday alongside heavy pre-market trading of the clinical-stage biotechnology company’s shares.
This has more than 6 million shares of NKGN stock changing hands as of this writing. That’s already well above its daily average trading volume of about 92,000 shares.
There are no press releases or filings today that explain why NKGN stock is up. The most recent news from the company came on Monday when it announced a presentation later this month.
NKGen Biotech intends to host a presentation at the Tau2024 Global Conference on March 25 and March 26. This presentation will go over “the effect of SNK01 NK cell therapy on CSF proteins, plasma proteins, and cognitive function in patients with advanced Alzheimer’s disease.”
What Else Is Affecting NKGN Stock?
It’s also likely that NKGen Biotech’s penny stock status has something to do with today’s rally. It’s possible that retail and day traders are taking an interest in it after its presentation announcement.
While this has NKGN stock up this morning, there’s no guarantee that the rally will last. This could result in a retreat once these traders lose interest in the company.
NKGN stock is up 61.6% as of Wednesday morning. Investors will note the stock was down 71.6% year-to-date when markets closed on Tuesday.
There are even more stock market stories traders will want to read about below!
We have all of the hottest stock market news worth checking out on Wednesday! That includes the biggest pre-market stock movers this morning and recent earnings data. All of that info is ready to go at the links below!
More Wednesday Stock Market News
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On the date of publication, William White 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.
