This Biotech Stock Is Up 158% in a Year. What’s Driving It Higher?

• Insight Molecular Diagnostics (IMDX) is a precision diagnostics company with disruptive transplant technology and strong recent price momentum.

• IMDX has surged 158% over the past year and is trading at a new two-year high.

• Shares maintain a 100% “Buy” opinion from Barchart.

• Analyst sentiment is mixed, with price targets from $4 to $8.

Valued at $215 million, Insight Molecular Diagnostics (IMDX) is a precision diagnostics company. The company’s tests are designed to help provide clarity and confidence to physicians and their patients.

The company’s flagship transplant technology quantifies a molecular biomarker known as donor-derived cell-free DNA (dd-cfDNA). Its scientists have played a critical role in developing the science that helped establish dd-cfDNA as a trusted biomarker of transplant rejection, and iMDx is now commercializing that technology.

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. IMDX checks those boxes. Since the Trend Seeker signaled a new “Buy” on Oct. 2, the stock has gained 124.85%.

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Insight Molecular hit a two-year high of $7.75 in morning trading on Nov. 11.

• IMDX has a Weighted Alpha of +87.78.

• Insight Molecular has a 100% “Buy” opinion from Barchart.

• The stock gained 158.33% over the past year.

• IMDX has its Trend Seeker “Buy” signal intact.

• The stock recently traded at $7.68 with a 50-day moving average of $4.51.

• Insight Molecular has made 12 new highs and gained 99.33% in the last month.

• Relative Strength Index (RSI) is at 78.02.

• There’s a technical support level around $6.78.