IRBT, RGLS, and TKMR are moving sharply in Wednesday's trading
U.S. stocks are modestly higher this morning, as Wall Street digests stimulus news out of Europe, a slight uptick in consumer prices, and the latest round of earnings reports. Among the names making significant moves are artificial intelligence issue iRobot Corporation (NASDAQ:IRBT), as well as drugmakers Regulus Therapeutics Inc (NASDAQ:RGLS) and Tekmira Pharmaceuticals Corporation (NASDAQ:TKMR). Here's a quick look at how IRBT, RGLS, and TKMR are faring on the charts today.
- IRBT is 16.6% higher at $36.87, after the firm said third-quarter profit nearly doubled from the year-ago period, topping analysts' expectations. The shares of iRobot Corporation are now 5.3% higher year-to-date, and on pace to end the week atop their 10-week and 20-week moving averages for the first time since early July. J.P. Morgan Securities chimed in by upping its price target to $38 from $36.50, though the brokerage firm upheld a lukewarm "neutral" rating. Elsewhere, short sellers could be hitting the bricks. Short interest accounts for more than a quarter of IRBT's total available float, representing nearly nine sessions' worth of pent-up buying demand, at the stock's average pace of trading.
- RGLS is hands-down the biggest advancer on the Nasdaq thus far, after the firm announced encouraging data regarding its proposed hepatitis C treatment. The stock was last seen 84.6% higher at $12.50, and earlier peaked at a record high of $15 -- more than twice the stock's closing price of $6.77 yesterday. As with IRBT, Regulus Therapeutics Inc shares are likely enjoying a short squeeze, as short interest accounts for 8.1% of the equity's available float. In fact, it would take more than three weeks to buy back all of these bearish bets, at RGLS' average daily trading volume.
- TKMR is flirting with $19.69, up 9.8%, after the company said it's started limited manufacturing of an Ebola treatment, which should be available by early December. On the charts, TKMR has skyrocketed 147% year-to-date, but since grazing the $30 level earlier this month, has dropped to test support at its 80-day moving average. Most analysts are already in the bulls' camp, with four out of six offering up "buy" or better endorsements, and not a single "sell" in sight. Plus, the consensus 12-month price target of $36.50 stands in uncharted territory for Tekmira Pharmaceuticals Corporation, and represents expected upside of more than 85% to the stock's current price.