CBLI | Cleveland BioLabs Gets Some Wall Street Love Finally

Known for being the worst performing low-priced stocks listed on the Nasdaq at times, the penny stock of Cleveland BioLabs Inc. (CBLI) returned into Wall Street’s good graces last week. A familiar name to many Wall Street analysts, CBLI stock received to positive rating s this week and price targets which have upsides of 110% and 180% respectively. Considering that shares in the clinical-stage biotechnology company closed Friday near their session lows, a simple run to the 50-day moving average alone would provide investors a 30% gain — a nice way to end the year on a positive note.

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CBLI Stock Chart

Market Cap: 62.11M
Close: 1.43, down -0.06 (-4.03%)
Volume: 183,616
Dollar Volume: $266,243
High: 1.52
Low: 1.42
Trades: 364
Average Trade Size: 504
Authorized: 80,000,000
Issued and Outstanding: 43,435,309

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December began bullish for Cleveland BioLabs in respect for those who are paid to look into the future. Wall Street analysts at Oppenheimer and Burrill Institutional Research each initiated coverage on CBLI stock this week. While Oppenheimer issued an “outperform” rating and $3.00 price target,  Burrill was a bit more bullish also initiating coverage with an “outperform” rating, but with a $4.00 price target.

Cleveland BioLabs has overhead space to reach those numbers at some point, a retracement of where the shares traded at the start of the year. While shares remain sluggish in both volume and performance, CBLI stock has little to no resistance until it runs into its 50-day moving average of $1.86 and subsequent resistance at the 200-day moving average of $1.93. While these levels are within a rally session or two, in the past 52 weeks, the biotech’s share prices have been bracketed by a low of $1.15 and a high of $4.06.

Two weeks ago, the Company and Panacela Labs Inc. announced an awarded contract worth over $4 million with the Ministry of Industry and Trade of the Russian Federation for development of Xenomycins, a family of compounds in development as anti-infective agents. The contract, issued under the Russian Federation’s “Pharma 2020” development initiative, provides matching funding over a period of roughly three years which will be used to support preclinical and clinical studies.

While the good news cause but a blip on the charts, closing up 4.29% on 171,545 shares traded, the grant money is an obvious necessity as funding has taken a huge hit in 2012 compared with 2011. Yet as the quest for cures and treatments for cancer studies continues, Cleveland BioLabs and CBLI stock will remain a radar blip until such time when positive reports send the share price into orbit if even for just a brief moment in time as has happened several times already this year.

About CBLI Stock

Cleveland BioLabs, Inc. is a clinical-stage biotechnology company with a focus on oncology drug development. Since inception, the Company has pursued the research, development and commercialization of products that have the potential to treat cancer, prevent and treat acute radiation syndrome and counteract the toxic effects of radio and chemotherapies for oncology patients. Click here to view the SEC filings for CBLI, here to view their product pipeline.

Last 5 Trading Sessions:

Date Last Change % Change Volume
12/07/12 1.43 -0.06 -4.03% 183,600
12/06/12 1.49 +0.09 +6.43% 364,400
12/05/12 1.40 +0.04 +2.94% 181,700
12/04/12 1.36 +0.05 +3.82% 140,000
12/03/12 1.31 -0.05 -3.68% 146,500

Bottom Line: CBLI is the kind of penny stock that cant get much worse and has a huge potential upside to it. As long as grant money continues to flow towards oncology research, Cleveland BioLabs, especially with their upcoming presentation at the Oppenheimer & Co. 23rd Annual Healthcare Conference. That said, have CBLI stock on your radar for a cheap entry price if the share price keeps sliding ower.

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