The situation with the stock of the biopharmaceutical firm Obseva SA (NASDAQ:OBSV) has been quite difficult for investors in recent week. The stock has suffered from a significant selloff in the past month and has recorded losses of as much as 30%.
Trading Data
On Tuesday, OBSV stock ended flat at $1.53 with more than 7.83 million shares, compared to its average volume of 922k shares. The stock has moved within a range of $1.4600 – 1.6400 after opening trade at $1.59
Major Trigger
However, it should be noted that on Tuesday, the Obseva stock had actually made a big move during the premarket trading period yesterday and gone up by as much as 15%. The rally in the stock yesterday was brought about by the announcement from the company with regards to the appointment of new Chief Strategy Officer in the form of KatjaBuhrer.
In addition to that, Buhrer had also been inducted into the executive committee at Obseva. The appointment went into effect yesterday and it seems that the move had come as a source of optimism for investors.
Buhrer is going to be involved in overseeing a wide range of operations at Obseva starting from investors and public relations to corporate strategy. In addition to that, she is also going to be involved in areas like alliance management and business development at Obseva. It may be a good time to keep an eye on the Obseva stock.
Technical Data
OBSV stock is trading below the 20-Day and 50-Day Moving averages of $1.72 and $2.02 respectively. Moreover, the stock is trading below the 200-Day moving average of $2.62.
