NEW YORK, February 9, 2017 /PRNewswire/ --
Focus is back on the Biotech industry which was one of the weakest performersin the stock market in 2016, declining over 21% as represented by the iShares Nasdaq Biotechnology ETF. According to an article on Seeking Alpha, signs that the sector would potentially breakout this year are present, and M&A deals can also catalyze
Tarrytown, New York-based Progenics Pharmaceuticals Inc.'s shares gained 0.52%, closing Wednesday's trading session at $9.58. The stock recorded a trading volume of 569,259 shares. The Company's shares have advanced 9.61% in the last month, 75.78% in the previous three months, and 10.88% on an YTD basis. The stock is trading 7.11% above its 50-day moving average and 46.37% above its 200-day moving average. Additionally, shares of Progenics Pharma, which develops medicines for oncology in the US and internationally, have a Relative Strength Index (RSI) of 59.05. On December 22nd, 2016, Progenics Pharmaceuticals announced that its independent Data Monitoring Committee (DMC) has completed review of an interim analysis of the Company's ongoing Phase 3 clinical trial of its PSMA-targeted SPECT/CT imaging agent candidate, 99mTc-MIP-1404 (1404), and recommended that the trial continue.
On February 06th, 2017, research firm Needham upgraded the Company's stock rating from 'Buy' to 'Strong Buy' while revising its previous target price from $11 a share to $14 a share. See our free and comprehensive research report on PGNX at:
On Wednesday, shares in Germantown, Maryland-based Intrexon Corp. recorded a trading volume of 1.01 million shares. The stock declined 0.37%, ending the day at $21.33. The Company's shares are trading below their 50-day moving average by 17.12%. Furthermore, shares of Intrexon, which operates in the synthetic biology field in the US, have an RSI of 34.63.
On January 24th, 2017, Intrexon announced that it has entered into a definitive agreement to acquire GenVec, Inc., a clinical-stage company and pioneer in the development of AdenoVerse™ gene delivery technology. Pursuant to the definitive agreement, upon the closing of the transaction GenVec stockholders will receive 0.297 of a share of Intrexon's Common Stock in exchange for each share of GenVec's common stock. GenVec's stockholders will also receive a right to contingent consideration equal to 50% of any milestone or royalty payments received within 36 months after the closing of the transaction under GenVec's Research Collaboration and License Agreement with Novartis. Consummation of the acquisition is subject to customary closing conditions, including GenVec's stockholder approval, and is expected to occur in Q2 2017. XON free research report PDF is just a click away at:
Rockville, Maryland headquartered Synthetics Biologics Inc.'s stock finished the day 2.84% lower at $0.83 with a total trading volume of 489,139 shares. The Company's shares have gained 8.84% since the start of this year. The stock is trading below its 50-day moving average by 1.19%. Additionally, shares of Synthetics Biologics, which engages in developing therapeutics to protect the gut microbiome while targeting pathogen-specific diseases in the US, have an RSI of 47.97.
On January 18th, 2017, Synthetic Biologics confirmed plans to initiate a Phase 2b/3 adaptive pivotal trial for SYN-010, the Company's modified-release reformulation of lovastatin lactone designed to reduce methane production by certain microorganisms (M. smithii) in the gut to treat the underlying cause of irritable bowel syndrome with constipation. The Company anticipates initiating this trial by the end of Q1 2017. Sign up for your complimentary report on SYN at:
Shares in Clarence, New York headquartered 22nd Century Group Inc. ended yesterday's session 2.22% lower at $0.88. The stock recorded a trading volume of 320,457 shares. The Company's shares have advanced 1.59% in the last one month. The stock is trading 9.70% below its 50-day moving average. Moreover, shares of 22nd Century Group, which provides technology that allows for the level of nicotine and other nicotinic alkaloids in tobacco plants to be decreased or increased through genetic engineering and plant breeding, have an RSI of 38.72.
On February 03rd, 2017, 22nd Century announced that the Company prevailed again in the most recent phase of the lawsuit filed by Crede CG III, Ltd. Crede filed the lawsuit after the Company terminated its failed China joint venture arrangement with Crede and its principal, Terren Peizer, due to non-performance and other serious breaches by Crede and its principals. Register for free on Stock-Callers.com and download the latest research report on XXII at:
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