Depomed, Argos Therapeutics, Microbot Medical Stocks Moving Today

Healthcare stocks Depomed, Argos Therapeutics, and Microbot Medical are making huge moves on the charts today

Josh Selway

Feb 22, 2017 at 11:43 AM

Stocks are fighting to hold onto gains this morning. Among specific equities in focus are healthcare stocks Depomed Inc (NASDAQ:DEPO), Argos Therapeutics Inc (NASDAQ:ARGS), and Microbot Medical Inc (NASDAQ:MBOT). Here's a quick look at what's moving shares of DEPO, ARGS, and MBOT.

Depomed Rallies After Strong Results

Though the stock has pared some of its earlier gains, DEPO was last seen 6.9% higher at $16.86, after the company's fourth-quarter earnings report impressed the Street. However, Morgan Stanley still reduced its price target to $19 from $20. Depomed Inc is no stranger to skepticism, with over one-quarter of its float controlled by short sellers, which equates to more than two weeks' worth of buying power, at average daily volumes. Looking back, these bears have a case, as DEPO had been trending lower since peaking near $27 in late September.

Argos Paces Worst Stocks on Nasdaq

ARGS is selling off after the company revealed an independent committee suggested it should discontinue its study of a renal cancer treatment. The shares were last seen 67% lower at $1.45, earning a spot on the short-sale restricted (SSR) list, and earlier touching a record low of $1.25. In fact, the equity is the worst percentage decliner on the Nasdaq. Many traders were gearing up for an Argos Therapeutics Inc sell-off, too. Specifically, short interest on the shares is now at an all-time high, after a 10.3% jump in the last reporting period.

Microbot Medical Explodes On Patent News

MBOT received a significant technology patent allowance, covering a device meant to prevent shunt stenosis. Now, the shares have soared 90% to $9.71 -- the best Nasdaq stock today. Even so, it's been a tough year for shareholders, as the stock's 12-month high stands at $48.60, touched last February. These heavy losses have attracted short sellers, with short interest on Microbot Medical Inc surging 30.7% in the last reporting period. At their typical trading volume, it would take over a week to cover the shorted MBOT shares.

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