Stocks on the Move: EVOK, AQXP, and ANF

Evoke Pharma Inc (NASDAQ:EVOK), Aquinox Pharmaceuticals Inc (NASDAQ:AQXP), and Abercrombie & Fitch Co. (NYSE:ANF) are three of the day's biggest movers

by Karee Venema

Published on Aug 18, 2015 at 3:09 PM
Updated on Aug 18, 2015 at 3:09 PM

U.S. benchmarks have spent time on both sides of breakeven today, as traders digest hot and cold earnings from a pair of blue chips, a strong report on the housing sector, and a turbulent day of trading in China. Among specific equities in focus, drugmakers Evoke Pharma Inc (NASDAQ:EVOK) and Aquinox Pharmaceuticals Inc (NASDAQ:AQXP), as well as specialty retailer Abercrombie & Fitch Co. (NYSE:ANF), are all making notable moves today.

EVOK has jumped 17.3% this afternoon to linger near $5.43, after the Food and Drug Administration (FDA) waived pediatric studies for the company's diabetic gastroparesis drug, since the disease affects adults. Despite today's bull gap, the shares still remain in the red on a year-to-date basis.

AQXP has had quite a run, with the shares rallying more than 1,100% between their Aug. 6 close at $1.79 and last Friday's settlement at $22.13. Amid this surge -- which had the shares topping out at a record peak of $55.75 on Aug. 10 -- the stock's 14-day Relative Strength Index (RSI) moved to 77, in overbought territory. This may explain why AQXP is 11.7% lower in today's trading to hover around $18.28.

ANF hit a six-year low of $17.71 earlier -- and was last seen down 7.1% at $17.81 -- after the company unveiled a big shake-up to its executive ranks. It's already been a tough year for the stock, which has surrendered nearly 38%. Short sellers, meanwhile, have been gambling on additional losses, with nearly one-third of the equity's float sold short.

ANF could remain in the spotlight next week, with the firm slated to unveil earnings Wednesday morning. Sector peer American Eagle Outfitters (NYSE:AEO) will take its turn in the earnings confessional bright and early tomorrow.

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