Options Traders Bombard ENTX After Drug Update

The company's osteoporosis treatment could be the first of its kind

Jake Scott

Deputy Editor

Jun 23, 2021 at 2:30 PM

The shares of Entera Bio Ltd. (NASDAQ:ENTX) are skyrocketing today, last seen up 42.8% to trade at $6.41. The biotech name saw positive results from a Phase 2 clinical trial of its osteoporosis treatment, EB613, which is slated to be the first oral bone building product available for osteoporosis patients.

ENTX's options pits are exploding with activity in response to the news. So far, 18,000 calls and 9,774 puts have exchanged hands, which is a staggering 71 times the intraday average. The July 7.50 call is by far the most popular, while the 5 put in the same series follow behind, with new positions being opened at both.

Meanwhile, all three analysts covering Entera Bio stock call it a "strong buy." Plus, the 12-month consensus price target of $10.33 is a 63.1% premium to the equity's current perch.

On the charts, today's positive price action marks the ENTX's third largest single-day percentage gain, with the other two occurring a couple of months ago to culminate in a March 12, record high of $10.16. The 80-day moving average has provided consistent support in 2021 as well, catching multiple pullbacks and helping Entera Bio stock add 490.7% year-to-date.

ENTX Chart June 23

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