Here's Why Selecta Biosciences Stock Is Soaring Today
Shares of Selecta Biosciences (NASDAQ: SELB) rose over 24% on Thursday without any company-specific news. But an article on Seeking Alpha by an anonymous source appears to be driving interest in the drug developer. The primary argument is that the stock is undervalued after a recent plunge.
Last week, shares of Selecta Biosciences tumbled when a Wall Street analyst downgraded the stock from a buy rating to a hold, and adjusted his price target to $4 per share. Even with today's pop, the small-cap stock is trading at roughly $3 per share.
As of 12:59 p.m. EDT on Thursday, shares had a 21.3% gain.
Source Fool.com
