KBIO: 39.50 +21.25 (116.44%)
On Thursday, in the course of Hot Morning trade, shares of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) inclined +419.81% or +8.47 points.
After the declaration of this news, the firm opened its current trade at $14.00. The stock is now trading at $10.74, floating in a range of $11.12 $14.72. The total volume traded for the day is 3.97M shares, as of now, lower than its average daily volume of 608,620.00 shares. The stock’s 52-week range remained $0.44 $16.00.
Martin Shkreli, chief investment officer of MSMB Capital Administration.
Late Thursday night, the pharmaceutical company KaloBios revealed that an investor group involving Shkreli attained more than half of the companys outstanding stock and was in negotiations to keep the company in operation, according to Business Insider
As a result, shares of KaloBios were up more than 600% in premarket trade on Thursday.
Shortly after the market open, the stock was up about 480%.
KaloBios had said in a release on Friday that it was going to wind down its operations and stop the development of the two drugs it was working on. Business Insider Report
On Nov. 18, KaloBios Pharmaceuticals, Inc. (KBIO) declared that it has been informed that an investor group comprised of Martin Shkreli and associates together have attained more than 50% of the outstanding shares of KaloBios, and that the company is in negotiations with Mr. Shkreli regarding possible direction for the company to continue in operation. Mr. Shkreli is the founder and chief executive officer of Turing Pharmaceuticals, a privately held biopharmaceutical company.
Short-Term Price Target Review:
In addition to major news, short-term price target update for KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) is available.
The mean estimate for the short-term price target for the firm stands at $5.00, according to 1 brokers. The higher price target for BIDU is $5.00, while the lower price target is $5.00. In the past 52-weeks, the company shares have declined -25.47% and marked new low $0.44 on Nov 16, 2015.
Analysts mean recommendation for the stock is 1.00. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
KaloBios Pharmaceuticals, Inc. is a biopharmaceutical company. The Company is focused on the development of monoclonal antibody therapeutics for diseases that represent a burden to society and to patients and their families. The Company operates through the development of pharmaceutical products segment. The Company seeks to identify and develop products that may treat multiple indications through proof of concept studies. The Companys principal pharmaceutical product candidates comprise: KB004, KB003 and KB001‑A. KB004 is a Humaneered anti EphA3 monoclonal antibody that has the potential to offer an approach to treating both hematologic malignancies and solid tumors. KB003 is a Humaneered anti granulocyte macrophage colony stimulating factor monoclonal antibody that was developed for the treatment of severe asthma.
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