Navidea Biopharmaceuticals Inc (NYSEMKT: NAVB)
Navidea Biopharmaceuticals isn’t having the best of mornings in the market today. In fact, when the trading session opened for the day, the stock was already trading on losses. From there, the stock dove further down, and now we’re receiving word that it has been halted. Below, we’ll talk about what we’re seeing from NAVB, why, and what we’ll be watching for ahead.
What We’re Seeing From NAVB
As mentioned above, Navidea Biopharmaceuticals isn’t off to the best of days in the market today. Unfortunately, the stock was trading well into the red at the opening bell. From there, it continued to slide further and further down. That is, until the stock was halted minutes ago. The halt happened at 9:57 with NAVB trading at $0.44 per share after a loss of $0.02 per share (4.63%) thus far today.
What’s Going On With The Stock
As is almost always the case, our partners at Trade Ideas were the first to inform us of the halt on NAVB. As soon as the CNA Finance team received the alert, we started digging to see if we could uncover the news. In this particular case, we’re seeing no fundamental news, no rumors, and nothing that we can attribute the halt to.
There is one thing we do know however, and that is that Navidea Biopharmaceuticals has indeed been halted. At the end of the day, trading doesn’t stop mid-session unless something big is happening. So, we know that we’re going to see some big news surrounding the stock ahead.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on NAVB. In particular, we’re interested in figuring out exactly why the stock was halted and what the reason means for the future of the company. We’ll be watching the news closely and bringing it to you as it breaks!
UPDATE 10:30: We have found the cause of the halt. CRG has been granted to the right to exercise its remedies provided in a loan agreement. As a result, CRG will sell shares of Macrophage Therapeutics, Inc., a subsidiary of NAVB.
UPDATE 10:34: NAVB reopens far higher. Currently the stock is trading at $0.64 per share after a gain of $0.18 per share (40.32%) thus far today.
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