Why Marker Therapeutics, Inc. (MRKR) Stock Gained Sharply Today

Marker Therapeutics, Inc. (NASDAQ:MRKR) is one of the best performers on the stock market today. At current price of $6.31, the shares have already added 0.22 points (3.61% higher) from its previous close of $6.09. Should you buy or avoid them? The stock sets an active trading volume day with a reported 319102 contracts so far this session. MRKR shares had a relatively better volume day versus average trading capacity of 362.05 thousand shares, but with a 30.96 million float and a 9.53% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MRKR stock indicates that the average analyst price target is $13.38 per share. This means the stock has a potential increase of 112.04% from where the MRKR share price has been trading recently which is between $5.69 and $6.28. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $10.

The shorts are running away from Marker Therapeutics, Inc. (MRKR) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a drop in short interest in MRKR shares. While short interest still represents only 14.4% of MRKR’s float, the number of shares shorted have fallen by -290674. The number of shares shorted fell to 4167929 shares, down from 4458603 shares during the preceding fortnight. With average daily trading volumes at 218484 shares, days to cover increased to about 17.06557 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Marker Therapeutics to Present at Two Upcoming Investor Conferences” and dated May 21, 2019.

During the recent trading session for Marker Therapeutics, Inc. (NASDAQ:MRKR), the company witnessed their stock rise $0.75 over a week and surge $0.59 from the price 20 days ago. When compared to their established 52-week high of $13.55, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/19/18. The recent low of $4.18 stood for a -53.43% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of -0.05 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Marker Therapeutics, Inc., the two-week RSI stands at 66.98. This figure suggests that MRKR stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MRKR readings is similarly very revealing as it has a stochastic reading of 73.89% at this stage. This figure means that MRKR share price today is being oversold.

Technical chart claims that Marker Therapeutics, Inc. (MRKR) would settle between $6.35/share to $6.61/share level. However, if the stock price goes below the $5.76 mark, then the market for Marker Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $5.43 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.34. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at ROTH Capital, assumed coverage of MRKR assigning Buy rating, according to their opinion released on May 30. Janney, analysts launched coverage of Marker Therapeutics, Inc. (NASDAQ:MRKR) stock with a Buy recommendation, according to their flash note issued to investors on March 01. Analysts at Piper Jaffray released an upgrade from Neutral to Overweight for the stock, in a research note that dated back to December 03.