Sesen Bio Inc. (NASDAQ:SESN) has had an action-packed month as short-term investors see the stock as an investment opportunity because of volatility. It is important to note that volatility is a common thing for low-priced biotech stocks.
Although such stocks move around quickly, it doesn’t imply that they will not offer long-term gains. With this said, it will be understandable why some may be skittish about the stock, given the share price plunged recently. Although a first glance indicates that SESN is a falling stock, a closer lock into details offers hope for a possible rebound and a ripe buying chance.
Over the past 12 months, the stock has been hovering around the $4 level. Because of the stock’s sideways price movement, there isn’t much discussion about SESN on financial chatter boards. However, its lead product candidate VIcieneum in phase three follow up registration trial stage in BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) treatment. Thus, SESN is a biotech stock to watch in the coming days.
Market Reaction:
On Wednesday, SESN stock increased 1.90% at $1.07 with more than 31 million shares, compared to its average volume of 17.68 million shares. The stock has moved within a range of $1.0200 – 1.1100 after opening the trade at $1.04.
