ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) shares have dropped considerably in early trading today as many investors on social media seem a bit perplexed. While there has been a mixed bag of analyst ratings and price targets, which have come in all over the place, this doesn’t exactly explain the recent price action within the stock.
Investors in ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) are anticipating results on the company’s CAR-T Cells Clinical Trials at the ASH conference. This could be the spark that the company needs for shares to move back up. With that said, the stock may have gotten a bit ahead of itself, moving up from $8.85 to over $14.93 in a six week period, ending last month.
The stock is down 11.32% or $1.38 following the news, hitting $10.81 per share. Approximately 1.08 million shares traded hands. ZIOP shares have risen 28.05% since May 1, 2015 and are currently uptrending. It has outperformed the S&P500 by 28.25%.
ZIOPHARM Oncology, Inc. is a biopharmaceutical company. The company has a market cap of $1.41 billion. The Firm is engaged in the acquisition, development and commercialization of a portfolio of cancer therapies through synthetic biology. It currently has negative earnings. The Company’s pipeline includes a number of cell therapeutics in both clinical and preclinical testing which are focused on hematologic and solid tumor malignancies.