- NYSEAMERICAN: SENS was up 2.66% on Friday and ended the week on a high level.
- Senseonics Holdings Inc is awaiting FDA approval for its promising diabetes monitoring tool.
- The Maryland-based company’s stock will be tested once the enthusiasm for Reddit wears off.
Most of the world longs for a shot in the arm – the COVID-19 vaccines – but people with diabetes are used to stabbing themselves and would prefer to forget that habit. Eversense CGM – A product developed by Senseonics Holdings (NYSEAMERICAN: SENS) is a product that promises to get rid of needles in a futuristic way.
The daily removal of multiple blood samples can easily be seen as a nuisance – and financially lucrative as diabetes is a common disease. Eversense CGM places a sensor under the patient’s skin and updates the results via a smartphone application.
How close is the Senseonics product to the market? Investors have pushed stocks higher, including a 2.66% gain on Friday that seems tame compared to previous penny stock rises in the not-too-distant past. Yet, SENS is trading below the 52-week high from $ 5.56 at the beginning of the year.
Here you can find all inventory updates
SENS share forecast
There is likely room for a larger upward run, heavily reliant on a Food and Drugs Administration (FDA) seal of approval. Once authorities give the solution the green light, stocks could jump.
On the other hand there is There is already a lot of enthusiasm in SENS shares. Equity was hyped on Reddit’s WallStreetBets forum and other online financial forums. The crowd tends to quickly switch to another hot choice.
Will FDA approval come fast enough to give Senseonics a boost and maybe generate even more hype? Or will a perceived delay in the green light for Eversense CGM cause a fall? For those who believe in the product, such a decline would be called “buy the dip” Opportunity.
The author has no position in any of the stocks mentioned in this article and no business relationship with any of the companies mentioned. The author has received no compensation for writing this article, except from FXStreet.
This article is for informational purposes only. The author and FXStreet are not registered investment advisers and nothing in this article is intended as investment advice. It is important that you conduct your own research before investing and seek independent advice from a registered investment advisor.
FXStreet and the author do not give personalized recommendations. The author makes no representations regarding the correctness, completeness or suitability of this information. FXStreet and the author are not responsible for any errors, omissions or loss, injury or damage that may arise from this information and its display or use. The author is not responsible for information that can be found at the end of the links published on this page.