Buzz Stocks: Twitter Inc, Dynavax Technologies Corporation, and Corbus Pharmaceuticals Holdings Inc

Today's stocks to watch in the news include Twitter Inc (TWTR), Dynavax Technologies Corporation (DVAX), and Corbus Pharmaceuticals Holdings Inc (CRBP)

Nov 14, 2016 at 10:09 AM
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U.S. stocks are mostly higher after a monster week, though tech stocks continue to underperform. Among specific equities in focus today are social media concern Twitter Inc (NYSE:TWTR), as well as biotech stocks Dynavax Technologies Corporation (NASDAQ:DVAX) and Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP). Here's a quick look at what's driving TWTR, DVAX, and CRBP.

  • TWTR is up 2% at $18.92, after Jana Partners LLC announced it had taken a 2.9 million-share stake in the social media company. TWTR is still down 25% since its early October peak of $25.25, gapping lower as buyout hopes dissipated, and now sits under the $19-$20 region, which has acted as resistance at several points since the beginning of the year. A few option bulls are likely cheering today's vote of confidence from Jana, with Twitter Inc's 10-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) of 4.52 sitting in the top 10% of TWTR's annual range.

  • DVAX is trading down 65.1% at $4.04, and has landed itself on the short-sale restricted (SSR) list, on news the U.S. Food and Drug Administration (FDA) has rejected its hepatitis B vaccine for the second time, citing "adverse events" during clinical trials. Dynavax Technologies Corporation shares now sit 84% lower for 2016, earlier touching a seven-year low of $3.20. Even on the SSR list, a number of short sellers are likely cheering today's development, with DVAX's short interest up by nearly 25% over the last two reporting periods. Shorted shares now account for more than one-third of DVAX's float, which would take nearly three weeks of trading to cover, at DVAX's average daily volume.
  • CRBP is 69.7% higher at $9.92, following positive Phase II trial results for its systemic connective tissue disease treatment, Resunab. CRBP now sits up a whopping 500% since the beginning of 2016, though it's still shy of its record high of $10.78, touched in October. While option buyers have been more optimistic than usual lately -- CRBP's 50-day call/put volume ratio at the ISE/CBOE/PHLX shows nearly 2.3 calls bought to open for every put over the last 50 days of trading -- today's Resunab news defies at least one firm's rock-bottom expectations.

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