Cytori Therapeutics Inc (NASDAQ: CYTX)
Cytori Therapeutics has had an interesting day in the market today. At the open, the stock started movement to the green, but quickly found the red. However, as the trading session progressed, the stock started to run on a clear trend upward. Below, we'll talk about what we're seeing from CYTX, why, and what we'll be watching for ahead.
What We're Seeing From CYTX
As mentioned above, Cytori Therapeutics is having a pretty strong day in the market today. While the stock was struggling to find a direction early on, that direction became defined in a big way as the afternoon started to roll in. Now, the stock is trading on some pretty impressive gains. Currently (3:38), CYTX is trading at $2.03 per share after a gain of $0.06 per share or 2.81% thus far today.
Why The Stock Is Having Such A Strong Day
As is just about always the case, our partners at Trade Ideas were the first to inform us of the gains on CYTX. As soon as we received the alert, the CNA Finance team started digging to see exactly what was causing the movement. It didn't take very long to dig up the story. The gains are the result of investor excitement surrounding a price target increase.
Early today, analysts at Maxim weighed in on Cytori Therapeutics. In the report, it was announced that the analyst has nearly doubled the price target on the stock; bringing it from $6.00 to $10.00. This is incredible news as it insinuates a massive upside potential from the current price. In fact, it suggests that the stock will grow by about five times.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CYTX. In particular, we're watching for further news with regard to the company's pipeline and progress. Of course, we will watch for any other breaking stories as well. As always, as the news breaks, we'll bring it to you!
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