The strong recovery in a stock after a significant slump can often bring it to the attention of investors and that is what is expected to happen with the Premier Biomedical Inc (OTCMKTS:BIEI) stock this week.
Market Action:
On Friday, BIEI stock surged 27.78% at $0.0046 with more than 6.23 million shares, compared to its average volume of 14.06 million shares. The stock has moved within a range of $0.0036 – 0.0048 after opening the trade at $0.0036.
Recent Press
This past Friday, the stock managed to bounce back strongly and soared by as much as 28%. However, at the same time it should be noted that it is still down by 26% over the course of the past week. That being said, it is also important to remember that there was no news about the company that could have led to such gains. In fact, there has been no news about Premier Biomedical in more than a year.
The last time any news emerged about the company was back in May last year when the company reached an agreement with Technology Health Inc with regards to pursuing a extracorporeal treatment for COVID 19 infection.
It was announced at the time that the treatment was going to deploy the antigen mapping technique that had been developed by Premier Biomedical. However, it is unlikely that the stock rallied on Friday due to that reason and hence, it could be a good idea to keep an eye on the news with regards to Premier Biomedical.
Key Quote:
Dr. Mitchell Felder, inventor of the patented extracorporeal treatment process (U.S. Patent 9,216,386 and U.S. Patent 8,758,287), indicated, “Our first step in bringing this “Map & ZapTM” process to fruition is to develop the biomarkers which can bind to the target coronavirus antigen molecules in the blood. We are very confident, that together with our university partners, we can identify and produce the requisite biomarkers in a relatively short period of time. This process is embodied in the provisional patents entitled: “Method for Treating COVID-19 Inflammatory Cytokine Storm for the Reduction of Morbidity and Mortality in COVID-19 Patients” and “Method for Treating and Curing COVID-19 Infection by Utilizing a Laser to Eradicate the Virus.”
Traders Note
BIEI stock is trading below the 20-Day and 50-Day Moving averages of $0.0053 and $0.0047 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0032. The stock is down 15% in the past month.
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