ZIOPHARM Oncology Inc. (NASDAQ: ZIOP)
ZIOPHARM Oncology stock is having a strong beginning of the week so far. After breaking through resistance on a steep climb yesterday, the stock continues to climb today; gaining 6.81% by 11:44. So, what’s causing the climb?
It’s All About The Volume
After watching other investors cash in on ZIOP it seems as though more and more are interested in joining the frenzy. Looking at data provided by CNN; it’s easy to see that this climb is all about volume. Over the past few months 3,928,357 shares have traded hands on the average day. However, today so far (11:45) there have been 3,435,356 shares trading hands; almost double the amount that we normally see by this time of day.
Key Information To Know About ZIOP
ZIOP is a biotechnology company that employs gene expression, control, and cell technologies in an effort to provide cell-based therapies for the treatment of cancer. From an analyst perspective, it seems like a strong stock. Of the mainstream analysts who have offered their opinions, 2 rate it a buy while 2 rate it a hold. Currently, there are no analysts that rate ZIOP as a sell. The company currently has a market cap of $1.3 billion. Currently, the company’s shares are up more than 90% year to date.
All in all, ZIOP seems like a very strong investment option. However, after the recent climb, it would not be advantageous to jump in now. Wait for a pull back for an entrance opportunity.
What Do You Think?
Where do you think ZIOP is headed and why? Let us know in the comments below!