TROV closed the last trading session with a 136.32% soar of the share price and an unseen volume of 4.21 million shares. After the lasting slow decline, TROV bounced up and overcame the $0.50 level that has been the resistance for months. The market closed then at $0.52, which was also the highest price reached during the day.
TrovaGene has no SEC filing and no current information about the business is available. The latest press release dates back to the middle of October. It announced that the company has received a U.S. Patent entitled “Kits for diagnosis and monitoring of pathogenic infection by analysis of cell-free pathogenic nucleic acids in urine.” The lack of news since that time and the reached last week bottom at $0.19 probably made some traders believe that it’s about time for another positive announcement from the company.
It can only be speculated on the huge for the stock volume. Possible is not only the outstanding release of a big deal for the biotechnology company, or at least another received patent, but also a follow-up promotional disclosure. Also interesting is that on Friday shorters entered the market of TROV shares and made up almost 50% of the enormous trading volume.
