Predictive Oncology Inc. (NASDAQ:POAI) jumped 26% after Wainwright analysts commenced coverage on the company giving a “Buy” rating with a price target of $5. In a note to investors, analyst Vernon Bernadino said there is potential in Predictive Oncology’s AI-driven treatment-discovery platform, PeDAL, to create exceptional precision cancer drugs discovery.
In addition, Bernadino said that the company could is a disruptive AI player in cancer-fighting. Equally, the analyst said that there is a more comprehensive application of Predictive Oncology’s self-interaction chromatography screening platform.
Recently the company announced that two of its wholly-owned subsidiaries TumorGenesis Inc. and Soluble Biotech Inc. are expanding their services by finalizing the construction and qualification of GMP plants. Predictive Oncology VP operations said that the GMP facility addition would significantly enhance the company’s potential customer base leading to long-term partnerships.
Soluble Biotech’s GMP facility will enable the company to offer customers formulations used directly in clinical trials. In the coming months, POAI is a stock to keep an eye on.
Market Reaction:
On Wednesday, POAI stock soared 26% to $1.31 with more than 13.44 million shares, compared to its average volume of 2.90 million shares. The stock has moved within a range of $1.1300 – 1.4000 after opening the trade at $1.20. Over the past 52-week, the stock has been trading within a range of $ 0.6300 – 2.3000. Moreover, the stock is up another 16% to $1.52 in the pre-market session.
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