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FOLD, INO, and MOBI are moving sharply in Monday's trading
Around midday, three of the top market movers are drugmakers Amicus Therapeutics, Inc. (NASDAQ:FOLD) and Inovio Pharmaceuticals Inc (NASDAQ:INO), as well as China-based app store Sky-mobi Ltd (ADR) (NASDAQ:MOBI). Here's a quick roundup of how FOLD, INO, and MOBI are performing on the charts so far.
- FOLD has rallied 16% to trade at $6.60, following promising Phase 3 trial results for its Fabry disease treatment. Year-to-date, the shares have now tacked on more than 180%. In the options pits, however, short-term traders have been more put-focused than usual toward Amicus Therapeutics, Inc. Specifically, the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.06 ranks in the 89th percentile of its annual range.
- INO is down 8.2% to hover near $10.10, after ending its collaboration with Roche on a prostate cancer drug. The move lower has the equity now staring at a 2014 loss of roughly 13%, and at risk of closing below its 50-day moving average for the first time since Oct. 10. Should these technical struggles continue, Inovio Pharmaceuticals Inc could face a round of potential downgrades and/or price-target reductions. After all, each of the analysts covering the shares rate them a "strong buy," and INO's consensus 12-month price target of $21 is more than double the current stock price.
- MOBI is also deep in the red today, shedding 15.3% of its value to perch at $5.92. Pressuring the shares are a poorly received third-quarter earnings report, as well as the surprise resignation of the company's chief financial officer. Nevertheless, Sky-mobi Ltd (ADR) maintains a year-to-date advance of more than 58%. Not surprisingly, short-term speculators have been focused on calls relative to puts recently. MOBI's SOIR of 0.17 indicates call open interest is more than five times put open interest, among options expiring in the next three months. Plus, this reading is lower than 88% of comparable metrics from the past year.