In the past week, there has been a strong surge in interest in biotech stocks and that is a trend that investors ought to look into. Considering the fact that it is a highly innovative sector, it may well be a good move to keep an eye on. There have been certain biotech stocks that have managed to record massive gains in the past week and here is a look at four of those.
Verastem Oncology (NASDAQ:VSTM) - The biopharmaceutical company has seen its stock go on a remarkable run over the past week and during the period it clocked gains of as much as 125%. On May 25 the company came into focus after it announced the updated data about its currently ongoing RAMP 201 trial for the evaluation of the efficacy and safety of avutometinib in isolation or in combination with defactinib. The trial had been conducted on patients who had been suffering from recurring low-grade ovarian cancer. The combination resulted in an objective response rate of 45% and tumor shrinkage of as much as 86%.
Context Therapeutics Inc (NASDAQ:CNTX) - The company’s stock garnered considerable interest in the past week and clocked gains of as much as 54% in the period. The company announced its financial results for the first fiscal quarter ended on March 31, 2023, back on May 10.
It ended with cash and cash equivalents of $29.8 million as opposed to $35.5 million on December 31, 2022. Context Therapeutics reported a net loss of $6.3 million, which was higher the net loss of $3.4 million in the prior year period. Net other income for the quarter was $0.4 million as opposed to only $5000 in the prior year period.
Compugen Ltd (NASDAQ:CGEN) - Clinical-stage cancer immunotherapy company Compugen Ltd had emerged as one of the notable gainers over the past week having gained as much as 35% in that interval. The company announced its financial results for the first fiscal quarter that ended on March 31, 2023, and it could be a good move to take a look.
At the end of the quarter, the company had cash, cash equivalents, restricted cash, and short-term bank deposits totaling $74.3 million, as opposed to $83.7 million at the end of December 31, 2022. The company had no debts on its books. Research and development expenses went up to $7.4 million from $7.2 million in the prior year period. Net losses stood at $9.3 million and it was lower than the net losses of $9.7 million in the prior year period.
Sonnet BioTherapeutics Holdings (NASDAQ:SONN) - Over the past week the Sonnet BioTherapeutics Holdings stock had managed to clock gains of as much as 83% amidst significant interest. It announced its financial results for the three and six-month periods that ended on March 31, 2023, in May. The company announced that at the end of the period, it had $11.4 million in cash and no debts. Research and development expenses for the quarter went down to $3.8 million from $6.4 million in the prior year period.
Investing in the stock market is all about timing. Timing is everything and seconds count! Stocks can move very quickly, especially when there’s breaking news about a company or other impactful market events are occurring. We at TradersInsight.com believe that market moves can be predicted with the use of Technical Analysis, providing critical insight into trading opportunities for investors whether they are new or advanced traders to make consistent gains in the market. The trick is timely and reliable guidance.
TradersInsight.com is one of the leading providers of stock tips including swing trading, day trades as well as short and long term trades for all kinds of traders with a current focus and emphasis on Biotech, Pharma and Technology based stocks. Our mission is to identify and share concrete and consistent trading opportunities based on solid research and reliable self-developed trading systems. With our alerts, subscribers get notified about urgent buy or sell signals. We provide our readers with a precise buy range, as well as a stop loss for controlling risk. We do all of the research, allowing our subscribers the opportunity to confidently trade our picks and not get swallowed by unnecessary information.
Disclaimer:
All content provided by TradersInsights is for informational purposes only. The information provided should not be considered as a substitute for professional advice, analysis, or guidance. Any investment decisions made based on the information provided are solely at the user's own risk. TradersInsights are not liable for any losses or damages incurred as a result of using this information. TradersInsights is not operated by a licensed broker, a dealer, or a registered investment adviser. The Securities Litigation Reform Act of 1995 provides safe harbor protection for forward-looking statements made by companies or individuals. It should be noted that any forward-looking statements made by TradersInsights, its authors, are not guarantees of future performance or results. These statements are subject to risks, uncertainties, and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. The content provided by TradersInsights does not constitute an endorsement, recommendation, or solicitation to buy, sell, or hold any securities or investment products. TradersInsights, its authors, do not endorse or recommend any specific investment strategies, securities, or companies. It is crucial to conduct thorough research and seek advice from a qualified professional before making any investment decisions. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. The user assumes full responsibility for the use of the information provided by TradersInsights. TradersInsights, its authors, disclaim any liability for any direct, indirect, or consequential damages arising from the use or reliance on the information provided. Users should exercise their own judgment and discretion when interpreting and utilizing the information provided. Please note that the content provided by TradersInsights is based on available information and sources believed to be reliable. However, market conditions and regulations may change over time, and there may be inaccuracies or errors in the information provided. It is recommended to verify the information with current and reliable sources before making any investment decisions.
Media Contact
Company Name: Traders Insights
Contact Person: Traders Insights
Email: Send Email
Country: United States
Website: http://tradersinsights.com/
