Selecta Biosciences (NASDAQ:SELB) stock went parabolic on Friday during after-hours session after investors noticed that an early Moderna (MRNA) investor and Harvard PhD, Timothy Springer, continued to pour his fortune into this small cap stock.
Mr. Springer also happens to be a director at Selecta Biosciences. He reportedly purchased more than 6,500,000 shares in October. He went on a shopping spree on October 7 when he bought 654,953 shares at $1.65 and continued buying all the way to October 23 when he bought 994,448 shares for $2.71.
Fearing that they will miss on a next Moderna, investors joined Mr. Springer and started buying, this pushed SELB stock almost 20% higher in AH. Now, everyone is waiting for Monday to see if the stock will gain or lose.
Selecta Biosciences is a clinical-stage biopharmaceutical company that aims on treating rare and serious diseases.