Long Position on SMTI @ $48.50 on 4/18/2023 (Momentum)

Sanara MedTech Inc. (SMTI) develops, markets, and distributes wound and skin care products to physicians, hospitals, clinics, and post-acute care settings in the United States. 

It also offers CellerateRX Surgical Activated Collagen powder and gel that are used in a range of surgical specialties to help promote patient healing; Biako¯s Antimicrobial Skin and Wound Cleanser, a patented product that disrupts extracellular polymeric substances to eradicate mature biofilm microbes; Biako¯s Antimicrobial Wound Gel, an antimicrobial hydrogel wound dressing helps against planktonic microbes, as well as immature and mature biofilms; and Biako¯s Antimicrobial Skin and Wound Irrigation Solution.

The company provides HYCOL Hydrolyzed Collagen Powder and Gel, a medical hydrolysate of Type I bovine collagen for the management of full and partial thickness wounds, including pressure ulcers, venous and arterial leg ulcers, and diabetic foot ulcers.

Shares have formed a bullish "cup and handle" after it received FDA's 510(k) clearance for BIASURGE™ Advanced Surgical Solution. Sanara's CEO, stated, “A key part of our surgical market growth strategy is to expand the number of efficacious products we offer that improve outcomes and reduce costs. Commercializing BIASURGE™ is the next step in our execution of this strategy, and receiving our 510(k) clearance is a significant milestone as we advance our efforts." Higher share prices are expected.

USE A LIMIT ORDER

Entry Point: $48.50

Trading Range: $17.41 to $50.18

Stop Loss: $46.00

Target Price: $53.00

Position closed on 4/24/2023 at price of $46.00 with a -5.15% loss in 6 days.

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