Shares of Heat Biologics Inc (NASDAQ:HTBX) jumped over 50% today on a surge of volume which came in at around 1:30 p.m. ET. While there has been no official news reported as of yet, the volume and sudden trading seems to indicate that there is perhaps some sort fo leak. Shares of Heat Biologics Inc (NASDAQ:HTBX) had been trading about even on the day, on very little volume, before buyers jumped in at 1:30, and the buying continued into the close.
Over ten times the average volume traded hands, with the vast majority of trades taking place in the final 2:30 hours of trading. The stock, which had been down close to 80% since June, certainly needed a rally like this, but whether or not this rally has anything of substance behind it, we will have to wait and find out. The stock increased 55.08% or $1.3 on January 5, hitting $3.66. About 589,590 shares traded hands or up 1063.01% from the average. HTBX has declined 62.54% since June 1, 2015 and is currently downtrending. It has underperformed the S&P500 by 57.85%.
The institutional sentiment decreased to 1.67 in Q2 2015. It’s down 3.33, from 5 in 2015Q2. The ratio is negative, as 4 funds sold all their Heat Biologics Inc shares they owned while 2 reduced their positions. 4 funds bought stakes while 6 increased their total positions. Institutions now own 6.22 million shares which is 52.34% more than the previous share count of 4.09 million in 2015Q2.
Venbio Select Advisor Llc holds 0.41% of its total portfolio in Heat Biologics Inc, equating to 341,064 shares. Muhlenkamp & Co Inc owns 10,800 shares representing 0.01% of their total US portfolio. Moreover, Sabby Management Llc has 0.01% of their total portfolio invested in the company, equating to 32,201 shares. The Pennsylvania-based Vanguard Group Inc has a total of 0.01% of their portfolio invested in the stock. Bank Of America Corp De, a North Carolina-based fund reported 8,400 shares owned.
Heat Biologics, Inc. is a biopharmaceutical company. The company has a market cap of $20.48 million. The Firm is engaged in developing allogeneic, off-the-shelf cellular therapeutic vaccines to combat a range of cancers and infectious diseases. It currently has negative earnings. The Firm has two product candidates, which include HS-110 and HS-410 that are being evaluated in Phase II clinical trials for non-small cell lung cancer and bladder cancer, respectively.