APDN Stock Forecast: Is Applied DNA Sciences Stock a Buy?

Applied DNA Sciences is one of the hottest small cap stocks on the market right now.

Why is APDN Stock Soaring?

APDN Stock soared nearly 300% on August 2nd, 2022 when the company analytical validation of its PCR MonkeyPox test.

If Applied DNA validates the test, a validation package will be submitted to the New York State Department of Health (NYSDOH) for approval.

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California Governor Gavon Newsome issues a state of emergency as Monkeypox cases spread throughout the State of California. New York leads all states in cases with over 1,200+ reported so far.

APDN Stock Forecast

MonkeyPox isn’t going anywhere soon so APDN stock could continue running up throughout the rest of the week. My price target is around $8, which puts the market capitalization at nearly $100 million.

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It’s tough to determine where APDN stock will trade in the long run but realize you can swing trade this stock to make some gains.

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My Trading Plan for APDN Stock

APDN shares are up 75% during premarket trading on August 3rd, 2022 and I will look for some morning dip buying opportunities to jump into stock.

As always, be sure to trade with stop losses because APDN stock could get dumped in a hurry.

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You can trade long call options too if you want to profit from the runup. Check out our penny stock trading guide for more tips on how to

Summary

APDN stock is moving fast so let’s see how long this runup lasts. Check out our guide on how to buy stocks then choose one of our recommended online brokers below so you can get in on the action!

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