iSpecimen Inc (NASDAQ: ISPC) stock price rallied 78.2% premarket as investors flocked to stocks that are likely to benefit from a surge in new coronavirus infections.
The biotech company’s share price started the week with a massive rally after the US government awarded it a contract to support advanced research on the COVID-19 pandemic.
The company provides specimens related to the coronavirus pandemic and other diseases to help researchers design better testing platforms.
WELCOME BONUS - Free Share Bundle When You Invest £50!
Open a UK Investment Account: Shares, ISAs, Managed Portfolio
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
IG
View Offers
Empfohlener Broker
Multi Asset Platform
iSpecimen has provided over 600 SARS-CoV-2-positive serum samples to the Us Centres for Disease Control and Prevention and 100 negative serum samples since the COVID-19 pandemic started in 2020.
Investors bought iSpecimen stock since the company is likely to benefit from the emergence of the new, more dangerous variant of COVID-19 that many expect to trigger a new wave of lockdowns across the globe.
The company is likely to benefit from higher demand for its serum samples as governments and research organisations rush to get ahead of the new virus strain that threatens to erase all the gains made in controlling the pandemic.
When many people were preparing for a more normal life amid rising vaccination rates and the reopening of many economies, the latest twist in the pandemic threatens to derail the global economy significantly.
iSpecimen is one of a small number of stocks that have bucked the trend seen across most global stock indices that have fallen in the wake of the new virus that has seen investors flock to safe-haven assets such as bonds, gold and the US Dollar.
The biotech company is set to close the week much higher than last Friday’s closing price, which left it trading at $4.95. Its weekly gains stood at 791% at the time of publishing.
*This is not investment advice. Always do your due diligence before making investment decisions.
iSpecimen stock price.
iSpecimen stock price rallied 78.23% to trade at $18.18, rising from Thursday’s closing price of $10.20.
Is Now a Good Time to Invest In iSpecimen Shares?
Healthcare stocks, including iSpecimen shares, saw a wave of investors buy their shares during the pandemic. Governments also pumped money into the companies in an attempt to speed up the vaccine process. But, what happens now vaccines have been approved and the pandemic is becoming less prominent? Should we still invest in coronavirus-focused healthcare stocks? Or should we look to firms tackling other areas? Here are the best healthcare stocks to buy now…