Why Shares of Epizyme Soared 32.1% This Week
Shares of biopharmaceutical company Epizyme (NASDAQ: EPZM) rose 32.1% this week, according to data from S&P Global Market Intelligence. The stock, which closed at $1.06 a share last Friday, opened at that same price on Monday before rising to as high as $1.49 a share on Wednesday. Even after coming back to earth a bit on Thursday, the stock is up more than 29% over the past five days.
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There was no big news, other than a little bargain hunting after the stock lost more than half its value the week before, falling from $2.09 a share on Jan. 26 to as low as $1.01 a share on Jan. 27. That drop came after the company announced the pricing of a stock sale, diluting current investors' shares. It doesn't take much to make the small-cap biotech move, as its market cap is only $149.6 million.
Source Fool.com
