Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH)
Teraphase Pharmaceuticals is having an interesting day in the market. Early on, the stock started running for the top. However, more recently, it’s been on a run downward, nearly hitting the red line. Now, we’re seeing another spike upward with incredibly high momentum. Below, we’ll talk about what we’re seeing from the stock, why, and what we’ll be watching for with regard to TTPH ahead.
What We’re Seeing From TTPH
As mentioned above, Tetraphase Pharmaceuticals is having a very interesting day in the market today. The truth is, that watching the stock chart has been like watching a roller coaster. Nonetheless, regardless of all the up and down we’ve seen today, TTPH is spiking at the moment. Currently (12:03), the stock is trading at $4.73 per share after a gain of $0.10 per share or 2.16% thus far today.
Why The Stock Is Headed Up
As always, when the CNA Finance team was notified by Trade Ideas that TTPH was making a run for the top, we started digging to see exactly what was causing the news. It didn’t take long to dig up the story. While we didn’t find any fundamental news that would lead to such gains, we did see something in the social space.
At the moment, no matter which social network you like, if you search for Tetraphase Pharmaceuticals, chances are that you will see a rumor. The rumor is that the company is getting ready to be taken over. Keep in mind that the rumor has yet to be confirmed.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on TTPH. However, don’t get your hopes up too high. The truth is that we see these types of rumors all the time, and they rarely pan out. Nonetheless, we’ll watch the news closely and bring you any updates that break as they break!
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[Image Courtesy of Wikimedia]