There were a number of stocks which had managed to clock notable gains this past Friday and one of those was the CytoDyn Inc (OTCMKTS:CYDY) stock, which ended up with gains of as much as 13%.
Trading Data
On Friday, CYDY stock surged 12.40% to $0.34 with more than 1.90 million shares, compared to volume of 2.44 million shares. The stock moved within a range of $0.2951 – 0.3700 after opening trade at $0.2999.
Key Details
In this situation, it may be a good idea for investors to consider taking a look at the announcement from the company that led to the gains. The biotech firm, which is currently best known for its work related to the development of leronlimab, announced that it had added three new members to its Scientific Board of Advisors. The three individuals who have been added to the board include Dr KabirMody, Dr Otto Yang and Dr Paul Edison.
However, that was not all. It was also announced that Dr Jay Lalezari also reached an agreement with CytoDyn to serve in the capacity of an external Scientific Advisor. The addition of these three expert could in fact prove to be a significant boost to the company considering the fact that they are leading experts in their chosen fields. Dr Edison is an experts in neuroscience, while Dr Mody is one of the better known oncology experts and last but not the least, Dr Yang is a noted expert in infectious diseases.
Technical Data
CYDY stock is trading below the 20-Day and 50-Day Moving averages of $0.34 and $0.37 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.97.
