China Pharma Holdings, Inc. (NYSE:CPHI) shares are trending on Tuesday night.
Shares of the pharmaceutical company jumped 9.74% to $8.89 after the bell on Tuesday.
This surge in the late trading session follows an intraday rally of 694.12%, where the stock closed at $8.10, according to Benzinga Pro data.
CPHI experienced an exceptionally elevated trading session on Tuesday. Volume reached 93.61 million shares, more than 21 times the stock’s average daily volume of 4.39 million shares.
Short interest in the stock stood at just 0.09%, suggesting the rally was not driven by a short squeeze.
Company Cites No Material Developments
The unusual trading activity prompted NYSE American to contact the company, in line with its usual practice. In response, China Pharma announced after the markets closed that it was not aware of any material corporate developments that would explain the recent market activity.
The company advised shareholders and prospective investors to exercise caution and rely only on information in its Securities and Exchange Commission filings and press releases.
Trading Metrics, Technical Analysis
China Pharma Holdings has a market capitalization of $328.23 million, a 52-week high of $19.19 and a 52-week low of $0.38.
The Relative Strength Index (RSI) of CPHI stands at 94.04.
The biotech stock has gained 357.63% over the past 12 months. In the past month alone, it has surged 1,009.59%.
CPHI is currently trading near the lower end of its 52-week range. The stock is 41.0% of the way between its 52-week low and high.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Ole.CNX / Shutterstock
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