The biotech sector isn’t doing great in the market today. However, through the sea of red, there are definitely a few green stocks in biotech to talk about. Here are today’s biggest gainers in biotech and what we can expect to see moving forward.
Cleveland BioLabs Stock Climbs On Equity Agreement
Cleveland BioLabs, Inc. (NASDAQ: CBLI)
Cleveland BioLabs is having a great day in the market after announcing a major equity deal. Early this morning, CBLI announced that they had entered into a securities purchase agreement with venture capitalist, David Davidovich. Under the agreement, Davidovich will purchase about 6.5 million shares at a price of $3.87 per share. In total, the value of the deal comes to about $25 million dollars. As a result of the big buy, investor excitement sent the stock into a strong bullish trend; causing gains of over 100%. Currently (3:26), CBLI is trading at $6.04 per share after a gain of 113.36% on the news. However, keep in mind that price movements in the market are a series of overreactions. So tomorrow, it’s very likely that we will see declines. Nonetheless, if you didn’t get in on the gains today, don’t worry, there’s still opportunity. After the correction we’re likely to see tomorrow, I think we’re going to see a strong week next week. So, tomorrow may present your window of opportunity for low cost gains!
RXi Pharmaceuticals Corp Stock Is Up On High Volume
RXi Pharmaceuticals Corp (NASDAQ: RXII)
RXi Pharmaceuticals Corp received 2 new key patents for their self-delivering sd-rxRNA technology platform. After a steep climb, followed by a short correction, the stock has been trending up since; and today, it’s up big. Currently (3:34), RXII is trading at $0.59 per share after a gain of 12.40% so far today on high volume. The average volume on the stock over the past 50 days has been 1,975,356. However, today so far, 5,258,570 shares have traded hands. Given the overwhelmingly bullish sentiment surrounding the stock recently, I’m expecting to see more gains from RXII moving forward. So, keep an eye on the stock for pull-backs as they are likely to signify great buying opportunities!
Tenet Healthcare Corp Stock Is Up On A Key Supreme Court Decision
Tenet Healthcare Corp (NYSE: THC)
Earlier today, the Supreme court ruled that the federal government can continue issuing subsidies to Americans through the Affordable Care Act. Because Tenet Healthcare Corp is a string of hospitals and other medical services, this means that they are assured that they will receive payments for the assistance they provide to those in need; ultimately leading to profits in the long run. Currently (3:41), THC is trading at $56.10 per share after a gain of 12.02% so far today. This is another one to watch for dips as gains are likely to last quite a while.
Do You Know Of Any Others?
Do you know of any other stocks that are presenting strong opportunities in healthcare? If so, let us know in the comments below!