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Shares of Nanosphere Rebound

Jan 02, 2009
NEW YORK (GenomeWeb News) – Shares of molecular diagnostics firm Nanosphere rebounded today, after falling sharply earlier in the week.
 
Shares of the Northbrook, Ill.-based firm were up 26 percent at $6 in late Friday afternoon trade on the Nasdaq.
 
On Monday, Nanosphere’s stock tumbled 35 percent to close at $4.26, even though it reported no news and it didn’t make any regulatory filings that would account for such a sell-off. Some investors have speculated that hedge funds may have been selling the firm’s stock to fund redemption requests from investors.
 

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