iSpecimen (ISPC) stock underwent a massive rally on Friday after the provider of human biofluids, tissues, and living cells announced a new delivery option for customers. The company announced a new, streamlined shipping model that has reduced its shipping times by as much as 85%. This allows domestic customers to receive their orders in as little as two days.
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iSpecimen said that it achieved faster shipping times by sending orders directly to customers. This change lets it skip the central shipping hubs that it used before, cutting roughly seven to 14 days off of transit times. The company also expanded its partnerships with global shipping partners, allowing it to offer faster shipping times to international customers as well.
Katie Field, CEO of iSpecimen, said, “Since this process improvement customers have been pleased too, for example one was ‘impressed with the quality and care taken…in the careful sourcing and handling of the research materials.’ We are proud that our customers use rare materials that we source to advance scientific research.”
iSpecimen Stock Movement Today
iSpecimen stock was up 72.56% in pre-market trading on Friday, following a 10.34% fall yesterday. The shares have also fallen 49.96% year-to-date and 89.34% over the past 12 months.
With today’s news came heavy trading of ISPC stock, as more than 186 million shares changed hands. For perspective, the company’s three-month average daily trading volume is about 8.88 million shares.
Is iSpecimen Stock a Buy, Sell, or Hold?
Turning to Wall Street, traditional analyst coverage of iSpecimen is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates ISPC stock as Neutral with a 12-cent price target. It cites “very weak financial performance (sharp revenue decline, margin collapse, heavy losses, and ongoing cash burn)” as reasons for this stance.
