Any time a stock’s share price doubles—or even gets close—it’s a pretty big day. Just ask healthcare firm Ocean Biomedical (NASDAQ:OCEA), who saw its stock price climb over 114% at the time of writing. As is often the case for healthcare stocks that blast up into triple-digit gains, it all came back to new research data.
Ocean Biomedical engages in cancer-fighting like a lot of hot biomedical properties do these days. Recently, Ocean Biomedical presented details about its work on Chitinase 3-like-1, as well as PD-1. In that work, Ocean showed off how using both monospecific and bispecific antibodies could more aggressively take on multiple kinds of cancers. Specifically, both kinds of antibody treatments could go after both lung cancer—rather, non-small cell lung cancer—as well as a kind of brain cancer.
The research data generated around a phenomenon called the “master anti-tumor pathway” could ultimately present better ways to fight an even wider variety of cancers. In fact, several patents have already been granted to Ocean Biomedical’s Scientific co-founder, Dr. Jack A. Elias, M.D. Now, Ocean Biomedical may have a clear path to fighting everything from breast cancer to melanomas to prostate cancer and beyond.
Meanwhile, institutional investors are practicing a bit more restraint but are still somewhat eager to see how this turns out. Hedge fund sentiment is on the high side of Neutral right now after increasing their holdings in Ocean Biomedical by 43,400 shares last quarter.
