Biora Therapeutics (NASDAQ:BIOR) short interest has risen to more than 243%.
More than double the company’s float is being shorted by big financial institutions.
BIOR stock is up more than +71% this year-to-date but surged as much as +182% during the first trading week of January.
Formerly known as ‘Progenity’ (PROG), Biora Therapeutics stock is currently trading at $4.12.
The company may be heavily shorted, but there’s big opportunity for retail investors if the company’s clinical trials go well.
And so far, the company seems to be on track.
A big announcement such as the approval of their therapeutics program could trigger short sellers to run for the hills, initiating a short squeeze in Biora Therapeutics.
Will BIOR stock go up to its hundreds of dollars per share IPO levels again?
Here’s the latest BIOR stock news.
BIOR Stock News Today
Biora Therapeutics is on track to move into clinic with its lead targeted therapeutics program.
For Biora’s Targeted Therapeutics Platform, which is focused on treatment of ulcerative colitis (UC), the company remains on track for an IND filing for its PGN-600 program followed by clinical trial initiation.
During Q4 2022, Biora continued its engagement with the FDA with a pre-IND supplemental Type C filing requesting agency feedback on its proposed PGN-600 clinical development plans, including the company’s proposed approach to toxicity studies and other aspects of its clinical plan.
“The recent Type C response from the FDA further strengthens our confidence in our plans to enter the clinic during the first half of 2023 with IND filing followed by trial initiation in Q2, and data readouts anticipated in Q3,” said Adi Mohanty, Chief Executive Officer of Biora Therapeutics.
For Biora’s Systemic Therapeutics program, the company has been transitioning from early concept to a clinical-ready device.
With several of the key device upgrades implemented, the company expects to report data from preclinical studies on its next-generation device during Q1 and Q2 of 2023.
If clinical trials prove to be a success, Biora Therapeutics’ platform will be approved for use.
Source(s): Yahoo Finance
Will BIOR Stock Go to $100 Per Share?
Analysts are giving BIOR stock a high stock price prediction of $100 in the next 12-months, that’s a +2,045% gain.
Price targets for BIOR look rather promising, at least according to the experts.
CNN is showing the biotech company has a medium stock forecast of $82.50 (+1,670%) and a low of $65 (+1,294%).
So, is BIOR stock a buy?
Based on expert price targets for 2023, Biora Therapeutics stock could prove to be a ‘buy’ for value long term investors.
You can also keep an eye on Biora Therapeutic’s short interest updated daily here.
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