Sientra Inc (NASDAQ: SIEN)
Sientra was off to a relatively normal start to the trading session today. While the stock was in the green for the most part, the gains were relatively minimal. Nonetheless, minutes ago, the stock started spiking in a big way. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to SIEN ahead.
What We’re Seeing From SIEN
As mentioned above, Sientra was off to a relatively normal start in the market today. The stock was in the green for most of the morning, but the gains just weren’t anything worth writing home about. Nonetheless, that all changed minutes ago as the stock started to spike. At the moment (10:35), SIEN is trading at $10.14 per share after a gain of $2.13 per share (26.59%) thus far today.
Why The Stock Is Gaining
As soon as we noticed that SIEN was making a run for the top, the CNA Finance team went to work to see what was causing the movement. In this particular case, it didn’t take long to dig up the story. In fact, it seems as though the gains we’re seeing at the moment have to do with news surrounding the FDA.
Essentially, Sientra started spiking right after FDA approval docs were posted. Of course, this makes sense; any FDA approval is going to send the stock or stocks involved upward in the market. So, today’s run seems to be a reaction to this FDA news.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SIEN, as we don’t believe the run is anywhere near over. Moving forward, we’ll be interested to see the company’s plans regarding the steps they plan to take moving forward following the positive news, and their follow through on these plans. Nonetheless, we’ll keep an eye on the news and update you as more information becomes available.
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