Why Progenity Stock Is Soaring on Tuesday
Progenity (NASDAQ: PROG) saw its shares rise more than 11% on Tuesday. The company's stock opened at $2.10 a share, then rose to as high as $2.70 a share in midday trading. The stock has been volatile. It is down more than 74% for the year but is up more than 128% the past three months. It is well off its 52-week high of $9.48 a share.
The biotech company specializes in molecular testing products. Its last real news was last month when it announced it was able to patent Preecludia, its test to rule out preeclampsia, which is when pregnant women or new mothers develop high blood pressure and high protein levels that can cause complications with the liver, kidneys, the lungs or even seizures. The company's assay measures for free and dissociated placental growth factor, a biomarker for preeclampsia. At this point, Preecludia is still in clinical testing.
Image source: Getty Images.
Source Fool.com
