EnteroMedics Inc ETRM shares are trading higher by $0.43 (7 percent) at $6.48 in Tuesday's session.
Off the open, the stock sprinted to $7.30 before reversing course. The catalyst for the brief rally was that company public relations mentioned vBloc Neurometabolic Therapy 9 (a safe and effective weight loss device) is to be featured on "The Doctors" TV show on March 14.
EnteroMedics' stock, which blasted from a close of $3.97 to $27.70 over a three-session period from January 5 to January 10, has been wallowing at the $6.50 area since late January. That rally was instigated when the company was making moves towards securing insurance coverage for vBloc.
Since making its early morning high, the stock has been flooded with sellers. It immediately went under the $6.70 area and consolidated a bit, before embarking on another move lower. At this time, $6.40 stands as the low for the session.
In order to fill the void in price from Monday's session, it would need to reach $6.18.
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