Why Did NEUP Stock Surge 64% Today?
Synopsis
- Lynx1 Capital Management LP boosted its stake in Neuphoria Therapeutics by acquiring 639,110 shares.
- The shares were bought at prices ranging from $4.96 to $5.20, with an average cost of $5.137 per share.
Neuphoria Therapeutics Inc. (NEUP) stock drew heightened attention from retail investors after prominent investor Lynx1 Capital Management LP increased its stake by acquiring 639,110 shares.
The share purchase, made on October 21, was disclosed in a Securities and Exchange Commission (SEC) filing.
Pricing Details
The shares were bought at prices ranging from $4.96 to $5.20, with an average cost of $5.137 per share. In total, Lynx1 Capital spent $3.3 million to expand its position.
Following this acquisition, the investment firm now controls 875,328 shares of Neuphoria Therapeutics. The transaction highlights growing investor confidence in Neuphoria’s pipeline and market potential.
Neuphoria Therapeutics’ stock traded over 64% higher on Friday morning and was the second-most trending equity ticker on Stocktwits. Retail sentiment around the stock remained in ‘extremely bullish’ territory amid ‘extremely high’ message volume levels.
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