By Josh Beckerman


AeroClean Technologies Inc. shares were recently up 53% to $20.93, continuing the surge that followed U.S. Food and Drug Administration 510(k) clearance for the company's Purgo air purification technology.

Benchmark Co. analyst Robert Wasserman wrote in a Tuesday report that shares "rapidly met and exceeded our previous price target" and said the firm lowered its rating to hold from buy "due to share price and market volatility."

AeroClean shares closed at $2.37 on June 3, and ended the day at $4.75 on June 6.

The Purgo device uses germicidal UV-C LED air purification technology. The company said it is "proven to eliminate 99.99% of harmful airborne microorganisms, including bacteria, fungi and viruses, like COVID-19."


Write to Josh Beckerman at josh.beckerman@wsj.com


(END) Dow Jones Newswires

06-15-22 1439ET