This Healthcare Stock Massively Outperformed The Market Before The Holiday

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, December 24, 2024

A California-based healthcare company turned heads during Tuesday’s session after the company’s stock was halted following the U.S. patent award for its ‘Atherectomy Catheter Drive Assemblies’, according to a press release.

Traders were quick to snatch up shares of Avinger Inc. (Nasdaq:AVGR), pushing the micro cap up to $1.93/share (+200.44%) at the early session high. This move was a strong breakout from the multi-month downtrend this stock has been corralled by since May.

Avinger Inc is a United States-based medical device company. It is engaged in designing, manufacturing and selling image-guided, catheter-based systems that are used by physicians to treat patients with peripheral artery disease (PAD). The products offered by the firm include Lightbox imaging console, the Ocelot family of catheters, which are designed to allow physicians to penetrate a total blockage in an artery, known as a chronic total occlusion (CTO) and Pantheris, image-guided atherectomy device which is designed to allow physicians to precisely remove arterial plaque in PAD patients. It manufactures and sells products in the United States and internationally of which it generates the majority of the revenue from the sales made in the United States.

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