Cesca Therapeutics Inc (NASDAQ: KOOL)
Cesca Therapeutics is having an overwhelmingly strong day in the market today. When the opening bell rang, the stock started to make a mad dash for the top. While it has fallen from daily highs, it looks like yet another run is starting. Below, we’ll talk about what we’re seeing, why, and what we’ll be watching for with regard to KOOL ahead.
What We’re Seeing From KOOL
As mentioned above, Cesca Therapeutics is having an awesome day in the market today. On the opening bell, the stock made a run for the roof. Although it has fallen a bit from daily highs, not only are gains still impressive, but the stock also looks like it’s going to run yet again. At the moment (10:41), KOOL is trading at $3.73 per share after a gain of $0.98 per share (35.64%) thus far today.
Why The Stock Is Gaining
As usual, our partners at Trade Ideas were the first to send us the alert about the KOOL run. As soon as they did, the CNA Finance team started digging to see just what was causing the movement. While it took a bit more digging than usual, we seem to have found the cause for the gains. It seems as though investors are excited about an insider buy.
It looks as though the gains were caused by the report of a large insider buy in the SEC filings surrounding Cesca Therapeutics. With such a small float on the stock, the insider buy is creating trader excitement, and the traders really do own this one. For more information on the insider buy, click here to see the filing.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching KOOL incredibly closely. After all, large insider buys are often signs of great things to come. We’ll keep a close eye on the news and bring you the updates as they break!
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