One of the stock to have emerged as a major mover on Wednesday was that of Ziopharm Oncology (NASDAQ:ZIOP) as it ended the day with gains of as much as 10%. Considering the magnitude of the rally in the stock yesterday, it is perhaps time for investors to consider taking a closer look at Ziopharm and the reason behind the rally.
Prior to yesterday’s rally, the stock had been a poor performer and actually declined by as much as 23% in 2021. However, it seems that the appointment of Kevin S. Boyle in the capacity of the new Chief Executive Officer resulted in a new wave of optimism among investors with regards to Ziopharm.
The appointment of a new top boss can often lead to such bullish sentiments and more importantly, Boyle is a highly experienced executive as well. Prior to this, he had been the Chief Executive Officer of Kuur Therapeutics, which was eventually acquired by Athenex.
The company is involved in combating cancer through T-Cell therapies and it goes without saying that it is a market with considerable potential. However, it is going to be interesting to see if the stock can actually maintain the new found momentum over the coming days.