VFC's Stock House has been monitoring the progress of OncoVista Innovative Therapies (OVIT.OB) over the past couple of weeks, as the company's share price has moved by over 100% since mid February on relatively huge volume for the lightly-traded stock.
The trend continued on Monday when a new short term high of over sixty cents was reached, a level not seen for OVIT shares since last summer.
There has been no news released from the company to support such a move in volume and price, but speculation on the message boards around the Internet has it that investors may be taking note of OncoVista's technology, which is progressing in early stage development, and comparing its stock potential to other recent big-movers such as Immunocellular Therapeutics (IMUC.OB).
It might be a bit premature to consider OVIT at the same level of IMUC, given that Immunocellular is set to announce at least interim results from a high profile Phase II trial later this year, but the movement by OncoVista is certainly encouraging.
Continue to monitor this story as it develops, especially if the company ends up releasing some news that would provide support and justification for a sustained higher price.
If nothing else, any time a stock more than doubles in just a couple of weeks, it's one heck of a trading opportunity.
Disclosure: Long OVIT.