Shares of Clinical Data were on the surge during Tuesday's trading, flying higher by over 15% with three times the daily average having traded before 3 PM EST.
Speculation of a buyout has been in the air ever since the FDA approved CLDA's antidepressant drug Vilibryd last month, and it could be that word of an imminent announcement has leaked.
It's also possible that Tuesday's action is the product of large scale short covering.
This stock has been on the significant rise since the Vilibryd approval, and hasn't looked back at all, aside from a slight pause at the thirty dollar mark.
The stock broke through that level with force today, and if a buyout is being worked behind the scenes right now, it begs to question - just how high is this one going to go?
Excpectations are high, but with the market cap now over a billion dollars, will Vilibryd be worth that so quick?
Someone thinks so.
Keep an eye on this one, but again - I'm not a fan of chasing. Congrats to those who rode this up, but we could be pretty close to the highs right now.
Disclosure: No position