NBS stock price is on the rise again after NeoStem Inc. (NYSE MKT: NBS) was upgraded by analysts at WBB Securities from a “buy” to a “strong-buy“. The stem cell stock appears to be closing in on its 9th positive trading session ot of the last 10 as NBS stock trades currently up 11.68% at 0.6299 on volume of 2,118,488 shares. The rally was sparked after Company Chairman and CEO, Robin Smith, issued an update to shareholders of the penny stock with updates on recent developments and catalysts for the second half of 2012.
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NBS Stock Chart
Market Cap (intraday): 83.54M
Price/Sales (ttm): 0.98
Price/Book (mrq): 1.16
(Jul 11, 2011): 1.55
(Apr 4, 2012): 0.30
Avg Vol (3 month): 1,108,660
Avg Vol (10 day): 944,886
Shares Outstanding: 132.60M
% Held by Insiders: 11.03%
Shares of NeoStem are currently trading 39.72% above the 50 day moving average of 0.44, 24.54% above the 200 day moving average of 0.50, -59.97% below the 52 week high of $1.55, and 106.83% above the 52 week low of $0.30. WBB Securities accompanied their upgrade on the penny stock by issuing a $2.00 price target on NBS stock.
Highlights of the update to shareholders includes:
A definitive agreement to divest NeoStem’s 51% ownership interest in Suzhou Erye Pharmaceutical Co. Ltd will bolster NBS‘ balance sheet, increase its cash position by $12.28 million, and allow the Company to hone its focus on its cell therapy business.
The Company’s sale of Erye is expected to return 1.3% of NeoStem’s fully diluted issued and outstanding shares to the Company consisting of 1.04 million shares of NBS stock and cancels 1.17 million NBS stock options and 640,000 NBS stock warrants. Furthermore, between July 16th and August 14th, 2012, 730,250 Class A public warrants are scheduled to expire.
In January 2012, NeoStem’s acute myocardial infarction (AMI) therapeutic product development team achieved its forecasted goal of enrolling the first patient in the PreSERVE Phase 2 clinical trial. The Company continues to open new clinical sites and expects to achieve full enrollment over the next nine months or so and present top-line data by the end of 2013.
NeoStem’s Progenitor Cell Therapy (PCT) CDMO service business continues to grow and has added new clients in later stage clinical trials setting the stage for expansion into larger and substantially more lucrative commercial manufacturing contracts.
The Company’s development of their pre-clinical VSELTM Technology program continues to be funded substantially through U.S. Department of Defense and National Institutes of Health grants. In collaboration with investigators at Harvard’s Schepens Eye Research Institute, the University of Michigan, and the Roger Williams Medical Center, NeoStem scientists have demonstrated that human VSELs show promising therapeutic potential in animal models of diseases that include retinal pathologies, bone defects, and traumatic and complex wound healing.
Bottom Line: NBS‘ penny stock has been extremely volatile this year with long runs and rapid descents. Trading NBS stock is like trading any other penny stock, regardless of the exchange it is held on.
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