Interpace Diagnostics Group Inc (NASDAQ: IDXG)
Interpace Diagnostics Group is having an incredibly strong day in the market today. As soon as the opening bell rang, the stock found itself in the green. From there, we’ve seen a continuation of gains, bringing the stock to incredible profits. Below, we’ll talk about what we’re seeing in the market, why, and what we’ll be watching for with regard to IDXG ahead.
What We’re Seeing From IDXG
As mentioned above, Interpace Diagnostics Group is having an overwhelmingly strong day in the market. At the sound of the opening bell, the stock found itself in the green. Then a PR was released sending the stock on a rocket-like trajectory for the top shortly after the opening bell. Currently (9:55), IDXG is trading at $6.85 per share after a gain of $2.45 per share (55.68%) thus far today.
Why The Stock Is Climbing
As usual, our partners at Trade Ideas were the first to inform us of the gains on IDXG. As soon as they did, the CNA Finance team started digging to see exactly what was causing the movement. In this particular case, it took no time at all to find the news. The gains are the result of a strong press release that was published minutes ago.
According to the press release, Interpace Diagnostics Group announced an agreement with Blue Cross Blue Shield. In particular, the agreement surrounds the BCBS Center for Clinical Effectiveness. Under this agreement, the company will receive enhanced coverage from Blue Cross Blue Shield. Ultimately, this is a big positive for IDXG and its investors.
What We’ll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on IDXG. In particular, we’ll be watching for further developments with regard to coverage. After all, as you can see from today’s news, these developments tend to lead to big gains. We’ll keep a close eye on the news and bring it to you as it breaks!
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