Biocept Inc (NASDAQ: BIOC)
Biocept is having an incredible day in the market today. This is following up on the large gains that we saw on the stock yesterday. Today, we are only minutes into the session. However, the stock is already trading on massive gains. After started the day off with gains of more than 50%, the stock seems to be heading further upward. Below, we'll talk about what we're seeing in the market, why, and what we'll be watching for with regard to BIOC ahead.
What We're Seeing From BIOC
As mentioned above, Biocept is having an overwhelmingly strong start to the trading session today. Following up on the gains we saw yesterday, the stock started the day with impressive profits. While we are only minutes into the session, it seems as though those profits are likely to continue, as the stock continues to head in the upward direction. At the moment (9:41), BIOC is trading at $2.93 per share after a gain of $1.12 per share (61.88%) thus far today.
Why The Stock Is Climbing
As was the case in the beginning of the run yesterday, our partners at Trade Ideas were the first to inform us of the gains on BIOC today. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. In our search, the answer quickly became clear. The gains that we're seeing on BIOC today are a continuation of movement that we saw on the stock yesterday following a positive press release.
In the press release, investors learned that far more people will now have access to Biocept testing. In fact, we learned that the company has entered into a provider agreement with Blue Cross Blue Shield. That means that the company can now add customers of one of the largest insurance companies in the world to its growing audience.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BIOC. In particular, we're interested in seeing coming sales reports following this update. We're also interested in seeing if any more provider agreements are to come down the line. We'll be watching the news closely and bringing you the updates as they break!
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