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Traders Get Bullish on Shares of Cleveland Biolabs, Shares Up 6.2% (CBLI)

Published on Wed, 01/30/2013 - 13:23
By Robert Cotter

Cleveland Biolabs (NASDAQ:CBLI) is one of today's best performing low-priced stocks, up 6.2% to $1.62 on 1.1x average daily volume. Thus far today, Cleveland Biolabs has traded 295,000 shares, vs. average volume of 266,000 shares per day. The stock has outperformed the Dow (6.6% to the Dow's 0.1%) and outperformed the S&P 500 (6.6% to the S&P's -0.0%) during today's trading.

Cleveland Biolabs, Inc. develops pharmaceuticals. The Company develops drugs to protect humans from exposure to radiation.

Cleveland Biolabs share prices have moved between a 52-week high of $4.06 and a 52-week low of $1.15 and are now trading 41% above that low price at $1.62 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.

There is potential upside of 85.2% for shares of Cleveland Biolabs based on a current price of $1.62 and an average consensus analyst price target of $3.00. Cleveland Biolabs shares should encounter resistance at the 200-day moving average (MA) of $1.68 and support at the 50-day MA of $1.43.

By Robert Cotter