Emyria (ASX:EMD) share price up 131% this month. Here’s why

The Emyria Ltd (ASX: EMD) share price has been one of the best performers over the month, rising an astonishing 131%. We take a closer look.

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The Emyria Ltd (ASX: EMD) share price has been one of the best performers over the month. The share price has risen an astonishing 131%. Today alone, shares in the healthcare technology and services company are up 13% to 27 cents at the time of writing.

During the late afternoon trade, the company’s shares were being picked up for 26.5 cents. This reflects an all-time high for the Emyria share price.

We take a closer look into what’s moving its shares over the past few weeks.

What’s the go with Emyria?

At the start of February, shares in the healthcare technology and services company were swapping hands for as little as 11 cents. However, a raft of positive announcements led investors to revaluate the company’s prospect, sending the Emyria share price higher.

The first release was related to the company winning a digital health grant from the Western Australian government early this month. For this project, Emyria took the leadership role. This aimed to help boost the state’s digital health infrastructure and capacity in dealing with major health concerns.

Following the digital health grant, the company announced last week that it added a second Melbourne clinic to its portfolio. The expanded presence comes after Emyria revealed that it has achieved record patient appointments in January 2021. In total, the company now has six locations across Australia gathering clinical data to improve the platform for patient care.

Quick take on Emyria

Emyria, formerly known as Emerald Clinics, operates a network of specialist medical clinics and purpose-built, remote patient monitoring technologies.

The company captures real-world clinical data. This is used to provide consultation letters, containing information on prescription, recommended dosage, and duration of cannabinoid-based medicines.

Emyria share price performance

As noted, the Emyria share price began the month at 11 cents but has surged following positive investor sentiment. The company’s shares hit an all-time high today of 26.5 cents and could go higher based on its market capitalisation.

Emyria’s current value stands at around $57 million according to its current share price. This represents an opportunity for explosive growth should the company continue to impress investors with its progress.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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