vTv Therapeutics Inc (NASDAQ: VTVT) is having an incredibly strong start to the trading session this morning. However, if you go looking for press releases or SEC filings issued by the company, you’re not going to find any. So, what’s the deal? Today, we’ll talk about:
- Why we believe VTVT stock is headed up;
- what we’re seeing in the market; and
- what we’ll be watching for ahead.
Why VTVT Is Headed Up
First and foremost, I want to say that without any news from the company, any opinion with regard to why the stock is headed up outside of technical opinions, are purely speculation. After our partners at Trade Ideas alerted us to the gains, we did some digging and found no press releases and no SEC filings. However, the most recent SEC filing, one that we’ve covered in the past, was an overwhelmingly positive.
In the most recent filing, it was announced that MacAndrews & Forbes Group purchased an additional 1.879699 million shares of Class A VTVT common stock. That purchase brought the group to 36 million shares owned. The most recent purchase came at a price of $1.33 per share.
With all of that said, I believe that for some, excitement is still there surrounding this transaction. Nonetheless, the truth of the matter is that the majority of this move is caused by technical traders. After a series of bullish flags recently, the stock was waiting to break out. So, VTVT finally broke the ceiling yet again!
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that if you’re going to play the short game, you better get comfortable with the technical data. This run was written all over the charts. vTv Therapeutics traders were just waiting for the right time. Nonetheless, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:46), VTVT is trading at $3.67 per share after a gain of $0.65 per share or 21.52% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on VTVT. In particular, we’re interested in following the story surrounding the stock’s technical performance as it is making many traders happy today. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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