Shares of PharmAthene Inc. (NYSE MKT: PIP) are the top percentage gaining penny stock currently on the 3 big boards up as much as 50.82% today. PIP stock has already traded more than 10X its 3 month average volume after the Delaware Court of Chancery issued its final judgment in PharmAthene’s litigation against SIGA Technologies (Nasdaq: SIGA). PIP stock is currently trading at $1.69 on volume of 3.13 million after finding out that it will get a substantial portion of the profit from a smallpox drug made by SIGA. SIGA shares have reacted well as the penny stock has dropped only -2.16% and is currently trading at $2.26.
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PIP Stock Chart
a/o 11:38 am
Market Cap (intraday): 80.65M
Price/Sales (ttm): 2.45
Price/Book (mrq): 4.28
(Jun 3, 2011): 3.89
(Dec 15, 2011): 1.07
50-Day Moving Avg: 1.50
200-Day Moving Avg: 1.59
Avg Vol (3 month): 293,300
Avg Vol (10 day): 205,914
Shares Outstanding: 48.33M
% Held by Insiders: 6.11%
% Held by Institutions: 35.70%
(a/o May 15, 2012): 6.38M
Upholding its September 22, 2011 ruling, the Court awarded the Company 50% of the net profits over a period of 10 years from all sales of SIGA‘s smallpox antiviral therapeutic, ST-246, and related products, after SIGA receives the first $40 million in net profits.
PIP stock performance today has already blown through all of the near-term resistance points. If PIP can break and hold past 1.75, its 38.2% Retracement from 13 Week High then it can focus on surpassing and closing above the 1.84 to 1.87 range, the 4 Week High and 14 Day RSI at 70% points respectively. Beyond that, the next point PIP would need to take out will be 2.10, the 13 Week High.
Bottom Line: This is great news for both PIP shareholders and for investors because days like this prove that $10,000 in penny stocks is 10,000 times better than $1,000 in Facebook Inc. (Nasdaq: FB).
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