Stocks On the Move: Arrowhead Research Corp, Shake Shack Inc, and Arista Networks Inc

Arrowhead Research Corp (NASDAQ:ARWR), Shake Shack Inc (NYSE:SHAK), and Arista Networks Inc (NYSE:ANET) are making major moves today

Sep 11, 2015 at 2:22 PM
facebook X logo linkedin


A number of stocks are making massive moves this afternoon, with analyst opinion driving much of the action. Among the day's big gainers are Arrowhead Research Corp (NASDAQ:ARWR) and Shake Shack Inc (NYSE:SHAK), while Arista Networks Inc (NYSE:ANET) ranks among the leading laggards. Here's a closer look at ARWR, SHAK, and ANET.

ARWR is up 11.5% at $6.38, thanks to promising preclinical data for its experimental cancer drug ARC-HIF2. The surge has helped close the stock's year-to-date deficit -- though the gap remains wide, at over 13%.

Today's surge is punishing Arrowhead Research Corp short sellers. One-quarter of the equity's float is sold short, representing more than 10 days' worth of trading, at typical volumes.

On the flip side, option bulls are welcoming the jump with open arms. ARWR's 50-day call/put volume ratio of 25.97 at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) registers in the top percentile of its annual range. However, given the stock's longer-term technical struggles, some of this call buying may be of the protective kind.

Meanwhile, SHAK has shot 13.5% higher to trade at $55.11, despite being started at "market perform" at Cowen and Company -- which also handed out a $42 price target. However, the advance has petered out just south of the security's 10-week moving average -- above which the stock hasn't closed since early August.

If short sellers have their way, that trendline will again reject Shake Shack Inc. A brow-raising 62.7% of the equity's float is sold short.

Lastly, ANET has surrendered 10.3% to hover near $62.69, nearly wiping out its year-to-date progress. As a whole, this week has been nothing short of a disaster, with the shares dropping more than 16%, exacerbated by a sell-off among senior management -- including CEO Jayshree Ullal. 

On the sentiment front, William Blair reiterated a "market perform" rating today -- which represents a break from the prevailing trend. In fact, 70% of covering analysts rate Arista Networks Inc a "buy" or better. Option traders aren't so confident. ANET's 10-day ISE/CBOE/PHLX put/call volume ratio of 2.96 ranks just 3 percentage points from a 52-week peak.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI