SENS Stock Price: Senseonics Holdings Inc soars as investors await pending FDA approval


  • NYSEAMERICAN:SENS surged by 27.71% on Monday amidst a rocky day in the markets.
  • An underwriter has valued shares at $1.925 each as Senseonics ramps up a public stock offering.
  • Senseonics awaits FDA approval for its diabetes technology.

NASDAQ:SENS has been a stock on fire lately as shares have already gained more than 235% since the beginning of January. On Monday, Senseonics Holdings added a further 27.71% to close the first trading session of the week at the price of $2.95. The recent surge has pushed the penny stock to levels over double its 50-day moving average and nearly six-fold over its 200-day moving average, which shows its rapidly ascending trajectory. The stock is trending back towards its 52-week high of $3.90 that it reached earlier this month. 

There were a couple of catalysts that sent the little known diabetes treatment company skyrocketing on Monday. The first is an underwriter valuing shares of the company at $1.925 each as Senseonics works through the process of a public stock offering of over 51 million new shares. It is a common vehicle used by firms who have seen their stock price grow rapidly in a short amount of time. The second reason is that investors have growing optimism that Senseonics will find out if they are to receive FDA approval for its Eversense CGM System. There is anticipation that this decision will come in the first half of 2021. 

SENS stock forecast

SENS stock price chart

The Maryland-based company could see a further surge in its stock price if the FDA does give them its approval. The Eversense CGM System allows patients to constantly measure their glucose levels for periods of up to 90 days. Senseonics is also still riding the high of entering an agreement to have the cost of its equipment covered by EmblemHealth, one of the largest not for profit health plan providers in the United States. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!
   

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD extends gains amid dollar weakness

EUR/USD has bounced above 1.2150 as the US dollar resumes its decline in the aftermath of Friday's weak job figures. Uncertainty about the ECB's policy somewhat weighs on the currency while the upbeat Sentix Investor Confidence supports it.

EUR/USD News

GBP/USD soars to 1.41 after UK elections, US Nonfarm Payrolls

GBP/USD has hit a new three-month high just above 1.41 after the SNP failed to win a majority in Scotland and as the UK is set to extend its reopening. The dollar is still suffering from Friday's weak jobs report.

GBP/USD News

XAU/USD eyes critical resistance at $1,850

XAU/USD is rising for the fourth straight day on Monday. Next hurdle for gold is located around $1,850. A technical correction could be witnessed before the next leg up.

Gold News

ETH soars above $4,000, as BTC and XRP struggle

Bitcoin price beginning to hint at a complex topping process. Ethereum price shakes off rising wedge pattern to test new Fibonacci extension level.

More Dogecoin News

S&P 500 Nasdaq Day Ahead: No jobs, no bears, no way

Friday's jobs report still looms large over markets this morning with the dollar suffering a pasting at the hands of a resurgent sterling. Yields continue to shrug it off and slumber while the VIX does give a little wobble.

Read more

Forex MAJORS

Cryptocurrencies

Signatures