While the market is struggling to get back to even after being down half a percent, several companies are up big on large volume. Some of the biggest surging stocks have been seen in SinoCoking Coal and Coke Chem (SCOK), Endocyte, Inc (ECYT), and AbbVie Inc (ABBV).
SinoCoking Coal and Coke Chem (SCOK) is a little known or followed Chinese based coal and coke producer. Little known until today, that is. SinoCoking Coal and Coke Chem (SCOK) is up a staggering 200% today on very high volume this morning. It’s up after the company announced a new large underground coal gasification project. While there aren’t a lot of details from the company, it seems investors like what they have heard.
SinoCoking Coal and Coke Chem (SCOK)is trading at $8.16 up $5.24 or 180% today, on volume of over 16 million shares traded so far. SinoCoking Coal and Coke Chem (SCOK) shares have an average daily volume of just 250,000. The 52 week high of SCOK is $9.15, while the low for the year is just 83 cents.
Endocyte, Inc (ECYT) shares are no stranger to volatility and today it is very volatile, in a good way. After languishing in the mid $6’s last week, the shares ECYT have taken off, starting slowly yesterday. And then, just by coincidence Cantor Fitzgerald initated coverage of Endocyte, Inc (ECYT), with a buy rating and a hefty PT of $21.00.And now ECYT shares are taking off. ECYTis currently trading at $8.28, up $1.41 or almost 21% so far today. The 52 week high on Endocyte, Inc (ECYT) is $33.70, while the low is $5.91. Clearly this one has a long way back to it’s glory days.
Call volume is picking up in Endocyte, Inc (ECYT), a possible indication of even more gains to come as insiders and hedge funds appear to be stocking up on the $10 + call options.
AbbVie Inc (ABBV) is a freight train that can’t be stopped, and today it is pushing higher again. Even a lawsuit by U.S. regulators (with Teva for collusion) can’t slow this stock down.
AbbVie Inc (ABBV) is now trading at $56.48, up 92 cents as of just before noon today. ABBV usually has traded 5.31 million shares today versus it’s average daily volume of 10+ million shares.
Today’s boost is thanks to a boost in their price target by Cowen and Company. Cowan raised their PT from $62 to $65.