With an advance of 16.67%, Med BioGene Inc. (CDX:MBI:CA) was one of the best performing healthcare-sector stocks listed on the TSX Venture on February 16. After closing the previous session at $0.03, shares of MBI:CA opened this morning at $0.035 and closed the day at $0.035. Throughout the day, about 27,000 shares changed hands, compared to an average 30-day volume of 47,933 for Med BioGene Inc.. Shares moved as high as $0.035 and as low as $0.035 in today’s trading action.
The share appreciation gives the company a market capitalization of $2.63 million based upon 87.58 million shares outstanding.
In the past 52 weeks, shares of Med BioGene Inc. have traded as low as $0.03 and as high as $0.09. Technical traders will take note that at $0.035, shares of MBI:CA are trading below their 50-day moving average (MA) at $0.035 and below their 200-day MA at below $0.048. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them or holding over them is typically regarded as bullish.
Who is $Med BioGene?
Med Biogene Inc is a development stage life science company. The Company is engaged in the development and commercialization of genomic-based clinical laboratory diagnostic tests for cancer. The company is led by its CEO Iain Weir-Jones from its headquarters at 598 East Kent Avenue South.
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About the TSX Venture Exchange
Owned and operated by the TMX Group, the TSX Venture Exchange is a public venture capital marketplace for emerging companies. It is headquartered in Calgary, Alberta, Canada with offices in Toronto, Vancouver and Montreal. All trading on the exchange is done electronically. Originally established in 1999, the “Venture,” as it is often shortened, was previously known as the Canadian Venture Exchange, but renamed in 2001 subsequent to the TSX Group (now known as the TMX Group) purchasing it.
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