BioCryst Pharmaceuticals share price increases 30% thanks to interest from Reddit

• BioCryst Pharmaceuticals jumped to a 5-year high on Monday, fueled by growing investor interest on Reddit.
• The stock closed 39% higher after jumping to 41% in intraday trading.
• The move follows a post on the r / WallStreetBets subdirectory that called the company “the most undervalued stock on the market.”
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BioCryst Pharmaceuticals jumped 39% to a five-year high on Monday as Reddit investors declared a “BioWar” against short sellers betting against the stock. The move follows a post on the r / WallStreetBets subdirectory that called the company “the most undervalued stock on the market.”

The publication focused on a new drug known as Orladeyo, a once-daily pill approved by the U.S. Food and Drug Administration in December 2020, intended to prevent angioedema attacks. hereditary (HAE). HAE is a genetically rare problem with the immune system that causes abdominal swelling and cramps.

The Reddit post cited the December approval in the United States, as well as the recent approval in Japan and an expected OK from the European Union in the second quarter of 2021.

In one day, users have since voted for – the equivalent of being liked or liked on other social media platforms – the post almost 400 times and commented on it over 600 times.

The Reddit Army-fueled rallies, as seen in GameStop and AMC Entertainment, underscore the growing influence of retail investors. The stock market frenzy of the past few days has caught the attention of lawmakers and the Securities and Exchange Commission.

Read more: Buy these 26 heavily sold stocks as retail traders spark wild rallies in Wall Street’s less popular names, says Wells Fargo