Why Is YS Biopharma (YS) Stock Up 71% Today?

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YS Biopharma (NASDAQ:YS) stock is rising higher on Friday after the biopharmaceutical company announced officers purchasing shares.

According to a press release, the company’s founder and chairperson, Yi Zhang, as well as its director, president and CEO Hui Shao, are behind the share purchase. That saw them acquire a total of 475,488 shares of YS stock.

Breaking down that share purchase, 429,188 shares of YS stock were bought by the company leaders at an average price of $1.407 per share. The remaining 46,300 shares were purchased at an average price of $1.46 per share.

Shao said the following about the YS stock purchase.

“I have always believed in the unparalleled potential of YS Biopharma. At present, I believe the Company’s current stock price does not accurately reflect the significant intrinsic value of the Company. This investment is not just a financial decision, but a testament to my faith in our team, our innovative products, and the future trajectory we envision.”

YS Stock Movement Today

Investors are reacting positively to the stock purchase news. As a result, the company’s shares are seeing heavy trading as more shares are bought. That has more than 2.9 million shares changing hands as of this writing. For the record, the company’s daily average trading volume is about 657,000 shares.

YS stock is up 70.9% as of Friday morning.

Investors seeking out more of the most recent stock market news will want to keep reading!

InvestorPlace is home to all of the hottest stock market news traders need to know about on Friday! That includes the biggest pre-market stock movers this morning, why stocks were down on Thursday, and more. You can find all of that news at the following links!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that  InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

Read More:Penny Stocks — How to Profit Without Getting Scammed

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