Why Applied DNA Sciences (APDN) Stock Is Skyrocketing

Author: Henry Khederian | September 11, 2024 10:01am

Applied DNA Sciences Inc (NASDAQ:APDN), through its subsidiary Applied DNA Clinical Labs (ADCL), has expanded its clinical testing services for mpox (formerly known as monkeypox). Shares rose some 37% to $1.76 Wednesday morning following a press release from the company.

Applied DNA Sciences says the new service includes detection of both Mpox Clade I and Clade II, following approval from regulatory bodies like the New York State Department of Health and the FDA.

Applied DNA Sciences also says this move aims to help New York and other states combat the rising Mpox threat by enhancing access to testing. ADCL’s Linea Mpox Virus 1.0 Assay, initially approved in 2022 for detecting Clade II, was recently validated to detect Clade I as well. Testing will be conducted at ADCL's lab in Stony Brook, NY.

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How To Buy APDN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Applied DNA Sciences’ case, it is in the Health Care sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, APDN has a 52-week high of $28.40 and a 52-week low of $0.31.

Posted In: APDN