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Tag: ISPC Stock

  • iSpecimen Inc. (ISPC) Sees Rocketing Growth Push into the Afterhours

    iSpecimen Inc. (NASDAQ: ISPC) has sent shockwaves through the market with its stunning performance in afterhours trading on Wednesday.

    After already closing the regular session with a remarkable 32% surge, ISPC catapulted even further after the closing bell, skyrocketing an additional 61%. This dramatic ascent left investors and analysts astounded as the stock price more than doubled from its Wednesday open.

    The surge in trading volume was equally remarkable, reaching nearly 4 million shares, nearly four times its average volume. Such a surge in trading activity suggests a wave of hype surrounding the stock.

    Lack of Catalyst Raises Questions

    What’s particularly intriguing is the lack of apparent news driving this surge. With no obvious catalyst, many investors are cautious, fearing a potential profit-taking dip in the coming days. However, for now, bullish sentiment prevails, with investors riding the wave of momentum.

    Analysts point to the price chart, which indicates a support level around the mid 0.50 range. If the stock manages to hold above its current resistance level of .70, there’s potential for it to reach $0.90 – .$095, particularly given its relatively small float.

    Earning Insights

    The recent earnings release from iSpecimen provides some insight into the company’s underlying operations. In the first quarter of 2024, the company focused on leveraging its streamlined operational infrastructure to advance specific initiatives initiated in the second half of 2023. This focus on operational efficiency has been a cornerstone of iSpecimen’s strategy, as highlighted in recent communications from company executives.

    During the earnings call, iSpecimen’s management outlined a disciplined approach to financial management, with a strategic reduction in both capital and operational expenditures. This strategy has led to a significant improvement in the company’s financial position, with a notable reduction in quarterly cash burn compared to the previous year.

    Conclusion

    iSpecimen’s remarkable performance in afterhours trading reflects both market enthusiasm and cautious optimism. While the lack of news may raise concerns for some investors, the company’s focus on operational efficiency and strategic growth initiatives provides a solid foundation for future success. As the market continues to digest these developments, all eyes will be on iSpecimen’s next moves.

  • iSpecimen Inc. (ISPC) stock Falls Under Corrections After Hours

    On Tuesday, iSpecimen Inc. (ISPC) took a hit by 5.53% in the after-hours as it fell under corrections due to its recent gains. In the previous regular session, the stock gained a humungous 39.41% at the closing price of $14.29. Following the huge gain, the stock went down in the after-hours to $13.50 at 1.16M shares.

    The stock has been seeing bouts of gains and losses under correction after its expansion news on December 16.

    More about ISPC and its Movements

    Founded in 2009, the biospecimen procurer, iSpecimen Inc. (ISPC) has a market capitalization of $89.48 million. Currently, the company has 8.73 million shares outstanding in the market. Moreover, the ISPC stock has gained 13.96% in the past five days. Further, the stock has added over 8.3% last month and a huge 141.79% in the last three months.

    On December 16, the company announced the expansion of its global supplier network to widen its footprint worldwide. Following the news, ISPC has seen outbursts of gains followed by losses under corrections. Similarly, the stock gained hugely in Tuesday’s regular session. Consequently, it entered corrections in the after-hours, falling down to shed its gains.

    The Expansion

    According to December 16’s announcement, in 2021 25% of the company’s new suppliers are from outside the U.S. Moreover, the company has been adding new specimen suppliers throughout 2021, including from the U.S., Europe, and Asia-Pacific. Moreover, ISPC’s expanded biospecimen access also includes Germany, Russia, South America, Ukraine, Bulgaria, Spain, and India.

    As per the CEO and Founder of ISPC, Christopher Ianelli, the company has been receiving increased demand from Europe and Asia-Pacific. Given the high demand, it was important for ISPC to expand its reach in those areas as well. Hence, the company is providing quality specimens with a huge variety to researchers for their important work.

    ISPC’s Financial Highlights

    On November 04, the company announced its financial results for the third quarter of 2021. In the Q3 of 2021, ISPC reported revenue of $2.7 million, against $2.3 million in the year-ago quarter. This shows an increase of 21% year-over-year.

    Moreover, the company’s marketplace showed an increase of 30% year-over-year to registered research and supplier users of 4,900 approx.

    In addition, at the end of the third quarter of 2021, the year-to-date purchase orders of the company were $12.8 million. This marks an increase of 30% year over year.

  • iSpecimen, Inc. (ISPC) Stock on a Consistent Rise, Here’s the Reason

    iSpecimen, Inc. (ISPC) Stock on a Consistent Rise, Here’s the Reason

    iSpecimen, Inc. (ISPC), a technology-driven company, has surged 46.73% in aftermarket trading session. Consequently, ISPC stock is trading at $13.03 at the time of the writing. On Monday, ISPC closed the day at $8.88 after a gigantic increase of 80.49% during the mid-day session. This consistent rise is attributable to the selection of the company by the US government to supply critical human biospecimens.

    Why ISPC Rising?

    On Monday, ISPC announced that it had been contracted to support the new and advanced research on the COVID-19 pandemic. The research was to be aimed at seeking insights into the transmissibility, variants, outcomes, and testing validity in a major section of the society. During the last 10 months, ISPC has announced partnerships with many research and health care organizations on a variety of projects which required the COVID-19 samples. The company started working on the impacts of the pandemic soon after the outbreak last year. The company provided CDC with 600 SARS-CoV-2-positive serum samples and 100 negative serum samples.

    Q3 2021 Financial Results

    On 4th November, ISPC reported the financial results for the third quarter of the fiscal year 2021. The quarter ended on 30th September 2021. The company had cash of $9.79 million on 30th September 2021. The total revenue generated by the company during the period was $2.71 million against $2.25 million for the same quarter of 2020. The company bore total operating expenses of $4.17 million against $2.97 million for the same period of 2020. The net loss suffered by the company during the quarter was $1.55 million against $1.24 million for the same quarter of 2020. The net loss per basic and diluted share for the three months was $0.22 against $1.33 for the same three month period of 2020.

    Executive Commentary

     Christopher Ianelli, MD, Ph.D., CEO, and President of ISPC, while commenting on the results said that the company has achieved strong growth during the quarter, as a result of which, there was an expansion in market penetration. For him, these and similar efforts by the company have contributed to a strong quarter, as depicted from the results. He hoped that the efforts of the company would allow it to increase the value proposition for the users and suppliers and would further increase its sales momentum.

    Future Outlook for ISPC

    The last three months have proved to be outstanding for ISPC stock as it has surged more than 50% during the period. The prime reason for that is the increased reliance on innovation by the company, which in turn has gradually built the shareholder interest. Analysts believe that a continuation of these sorts of policies would yield the company numerous benefits in the future to come.