This morning the Bluejay Diagnostics Inc (NASDAQ:BJDX) stock is quite likely to be on the radars of many investors after it managed to clock gains of as much as 6% yesterday. In fact, the rally in the stock on Monday took the gains for the past week to as much as 44% for the past month.
Trading Data
On Monday, BJDX stock moved up 5.77% to $1.65 with 2 million shares, compared to its average volume of 2.33 million shares. The stock has moved within a range of $1.5200 – 1.6900 after opening trade at $1.69.
Major Trigger
The diagnostics company, which is yet to generate any revenues, saw its stock rally yesterday after it made a key announcement. The company noted that it had sent in a pre-submission package to the United States Food and Drug Administration for its Symphony IL-6 Test.
The filing is meant for gathering feedback from the regulatory agency before Bluejay can actually submit a medical device marketing application. It goes without saying that it was a significant development for the company and the rally in the stock was perhaps understandable.
The package that was sent in by the company to the agency is going to allow the FDA to review the product and then send in feedback with regards to Bluejay’s clinical trials and analytical testing plans. It may be a good move at this point to keep an eye on the stock and watch for further developments.
Technical Data
BJDX stock is trading below the 20-Day and 50-Day Moving averages of $2.20 and $2.64 respectively. Moreover, the stock is trading above the 200-Day moving average of $2.94.
