BiomX (PHGE) stock rocketed higher on Wednesday after the clinical-stage microbiome company filed a shareholder update with the Securities and Exchange Commission (SEC). In this filing, the company revealed that Morgan Stanley (MS) has taken a 7.1% stake in PHGE stock. It did so with its acquisition of 1,854,032 shares of PHGE.
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Morgan Stanley having taken a significant stake in BiomX stock is a positive catalyst for the company. Investors may choose to see it as a reason to buy PHGE stock. That’s despite the shares trading for less than $1 each, putting them in the penny stock range. This leaves them open to volatility and extreme price changes.
BiomX Stock Movement Today
BiomX stock was up 41.56% as of Wednesday morning, following a 0.67% increase yesterday. The shares were down 40.41% year-to-date and 75.7% over the past 12 months. Today’s news brought heavy trading to PHGE stock, with some 61 million shares traded, compared to a three-month daily average of about 2.13 million units.
Is BiomX Stock a Buy, Sell, or Hold?
Turning to Wall Street, only one analyst has covered BiomX stock in the past three months. H.C. Wainwright analyst Joseph Pantginis has a Buy rating and $15 price target for PHGE stock, representing a potential 3,348.28% upside for the shares.
