What’s Next for The Biotech Growth Trust Plc After Reaching 52-Week High?

 What's Next for The Biotech Growth Trust Plc After Reaching 52 Week High?

The stock of The Biotech Growth Trust Plc (LON:BIOG) hit a new 52-week high and has GBX 757.05 target or 3.00% above today’s GBX 735.00 share price. The 9 months bullish chart indicates low risk for the GBX 408.47M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the GBX 757.05 price target is reached, the company will be worth GBX 12.25 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 0.68% or GBX 5 on November 22, hitting GBX 735. About 145,554 shares traded hands. The Biotech Growth Trust Plc (LON:BIOG) has risen 7.38% since April 25, 2016 and is uptrending. It has outperformed by 2.83% the S&P500.

The Biotech Growth Trust PLC is an investment trust. The company has a market cap of 408.47 million GBP. The Company’s investment objective is to seek capital appreciation through investment in the biotechnology industry across the world. It has a 9.76 P/E ratio. It invests in a diversified portfolio of shares and related securities in biotechnology companies.

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