What's Going On With Bone Biologics Corp Stock?

Bone Biologics Corp BBLG shares are trading higher Thursday and has been halted multiple times despite a lack of company-specific news. Here's what you need to know.

What To Know:

Bone Biologics' stock recently effected a 1-for-8 reverse-split on Dec. 20, and the company also announced the closing of a direct offering of 1,139,063 shares of common stock at a purchase price of $0.64 per share on Nov. 20.

Bone Biologics shares are volatile Thursday, and moving on heavy trading volume with more than 6.6 million shares traded in the session. According to data from Benzinga Pro, the stock has a 100-day average volume of less than 145,000 shares.

Bone Biologics is one of the top trending tickers on Stocktwits, and traders there are noting the stock's small float of only slightly more than 502,000 shares. In addition to the stock's small float, it also has outsized short interest which can make the stock more susceptible to large moves on heavy trading volume.

According to data from Fintel, Bone Biologics shares have a borrow fee rate of 91.79% and zero shares are available to short.

Bone Biologics is moving Thursday along with several other small cap pharmaceutical stocks including Jin Medical International, Ltd. ZJYL, T2 Biosystems, Inc. TTOO and Iovance Biotherapeutics, Inc. IOVA.

BBLG Price Action: According to Benzinga Pro, Bone Biologics shares are up 31% at $6.10 at the time of publication.

Image: kirill_makes_pics from Pixabay

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