Inovio, Myriad Genetics, Zosano Pharma Stocks Moving Today

Inovio Pharmaceuticals Inc (INO), Myriad Genetics, Inc. (MYGN), and Zosano Pharma Corp (ZSAN) are among the stocks making notable moves today

Feb 13, 2017 at 3:21 PM
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Stocks are shaking off falling oil prices to pan new record highs. Among specific equities in focus are drug stocks Inovio Pharmaceuticals Inc (NASDAQ:INO), Myriad Genetics, Inc. (NASDAQ:MYGN), and Zosano Pharma Corp (NASDAQ:ZSAN). Here's a quick look at what's moving shares of INO, MYGN, and ZSAN.

HPV Collaboration Boosts Inovio Stock

INO is 5.3% higher at $6.73, on news the company has entered a licensing agreement with ApolloBio Corporation to develop and market its treatment for human papillomavirus (HPV) throughout Greater China. Still, the shares have shed 42% from their June 2016 highs. Traders have largely been betting against Inovio Pharmaceuticals Inc, with more than 15% of the stock's total float sold short. At INO's typical daily volume, it would take close to three weeks for these bears to cover their positions. 

Myraid Genetics Pops on SP600 Addition

News the stock will join the S&P SmallCap 600 Index (SP600) after tomorrow's close has MYGN up 6.3% to $17.01. That's a step in the right direction for the stock, which has dropped more than half its value over the past 12 months, and has repeatedly run into trouble at the 60-day moving average since last May. Unsurprisingly, there are few bulls in Myriad Genetics, Inc.'s corner. In addition to short interest representing nearly 40% of the stock's available float, 14 out of 16 analysts rate the shares a "hold" or worse.  

Upbeat Drug Results Send Zosano Pharma Soaring

ZSAN is trading up 63.3% at $1.96 -- making it one of the top performers on the Nasdaq today -- on positive results in the company's migraine treatment study. The shares are now up 155% year-to-date, but Zosano Pharma Corp is still painfully far from its January 2015 $11 IPO price. On the upside, the shares are set to close above the 320-day moving average for the first time since the trendline formed last May. Perhaps today's pop will spur some attention from the brokerage bunch -- as of now, just two analysts follow the stock, with one rating it a "strong buy," while the other maintains a "hold" opinion. 

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