Hindsight Markets Recaps Small-cap stocks on September 23, 2026
VBIO, September 23: an 8-K and $3.29
VBIO opened near its previous close after an 8-K, then ran to $3.29 during the session.
News via Stock News API
What happened
Before the open
The news came first: an 8-K at 8:00 a.m. Before the bell it reached $2.78, on 10K shares.
The open
It opened near its previous close, at $2.45. It ran to $3.29 by 1:17 p.m.
The close
It closed at $2.75, 17% under its high.
What to take from it: The move came during the session, not at the open.
The details
How it traded, step by step
Intraday run. It opened down 1.6% at $2.45, then ran from the open to the high of $3.29 in 227 minutes.
| Time (ET) | What happened |
|---|---|
| 4:12 a.m. | Pre-market high, $2.78 |
| 8:00 a.m. | News (Accesswire): Valion Appoints Life Sciences Veteran Dean Zikria as Interim CEO and Announces Board Leadership Transitions |
| 8:00 a.m. | SEC filing 8-K: FORM 8-K |
| 9:30 a.m. | The open: $2.45, down 1.6% from the previous close |
| 1:13 p.m. | First trade 20% above the previous close of $2.49 |
| 1:17 p.m. | High of the day to the close, $3.29 |
| 3:59 p.m. | Last trade before the 4:00 p.m. close, $2.75, 16.6% below the high |
The shape's name comes from a fixed rule, not a judgement (how shapes are named). Halts are in the halt table below.
The day in numbers
- Previous close
- $2.49
- Open, 9:30 a.m.
- $2.45
- Gap at the open
- −1.6%
- Pre-market high
- $2.78 at 4:12 a.m.
- High, 4 a.m. to 4 p.m.
- $3.29 at 1:17 p.m.
- Low, 4 a.m. to 4 p.m.
- $2.27
- Close, 4 p.m.
- $2.75
- Change at 4 p.m.
- +10.2%
- After-hours high, 4 p.m. to 8 p.m.
- $2.89 at 4:29 p.m.
- Volume, 4 a.m. to 4 p.m.
- 695,695
- Volume after hours, 4 p.m. to 8 p.m.
- 9,685
- Relative volume by 8 p.m.
- 7.3×
- Float
- 763,037 shares, from filings as of September 23, 2026
- Shares outstanding
- 887,590
- From news to the move: the first trade 20% above the previous close came 5 hours 12 minutes after the latest SEC filing before it (8-K, 8:00 a.m.).
- Volume, from the one-minute bars: 10,432 shares before the 9:30 a.m. open (1%), 11,224 in the first 30 minutes (2%), and 683,724 in the rest of the day to 8 p.m. (97%).
- Other days VBIO met the small-cap rule in our recaps: 5, the latest on October 26, 2026.
- The next session, September 24, 2026, it was up 26.7% from its previous close at the 4:00 p.m. close.
On the day's lists: the gainers. It is here because it met the small-cap rule on the gainers: price $2 to $20, up 10% or more, relative volume 5× or more, float under 20 million shares, its high reached $1 or more and it started the day at $20 or under (the rule every page uses).
Halts (none)
The exchange's halt feed shows no halts for VBIO that day.
Halt bands that day: the LULD plan's Amendment 18 rules (what that means, LULD calculator).
How we read the data, name a day's shape and pick the stocks: methodology.
Trade this day
Replay VBIO on September 23, 2026 in Hindsight Markets: the real tape, the order book and the halts, on a clock you control, and see where your orders would have filled.