Patheon, Seres Therapeutics, Wynn Resorts Stocks Moving Today

Three stocks making big moves on the charts today are Patheon NV (PTHN), Seres Therapeutics Inc (MCRB), and Wynn Resorts, Limited (WYNN)

Mar 16, 2017 at 2:34 PM
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After an upbeat start, the Dow has since changed directions to follow crude oil into the red. Among specific equities in focus are drug stocks Patheon NV (NYSE:PTHN) and Seres Therapeutics Inc (NASDAQ:MCRB), as well as casino concern Wynn Resorts, Limited (NASDAQ:WYNN). Here's a quick look at what's moving shares of PTHN, MCRB, and WYNN.

Earnings, Outlook Send Patheon Stock to New Lows

Shares of PTHN are down 12.4% at $27.50, after earlier touching an all-time low of $23.72. Weighing on the stock is the company's lower-than-expected quarterly earnings, along with a full-year outlook cut. Today's losses have Patheon NV among the biggest laggards on the New York Stock Exchange, and have the stock on track for its lowest close since late January. Heading into the session, PTHN had put in a strong performance in 2017, which likely explains why all 10 covering analysts rate the shares a "buy" or better. But with the equity now in the red on a year-to-date basis, a round of downbeat brokerage attention could spell even more trouble. 

Seres Therapeutics Flies High on Drug News, Revenue Results

MCRB is among the top performers on the Nasdaq, up 39.3% at $12.91, after the company reported fourth-quarter revenue that topped estimates, filed for a mixed-shelf offering of up to $150 million, and revealed plans to begin a mid-stage study for its C. difficile treatment, SER-109. The stock is now in positive year-to-date territory, and on pace to finish above the 160-day moving average for the first time since its massive July bear gap -- caused when the same C. diff drug failed to meet its goal in a previous trial. Seres Therapeutics Inc could get an extra boost if short sellers begin to cover their positions. Currently 12.9% of the stock's total float is wrapped up in these bearish bets, representing roughly four weeks' worth of buying power, at MCRB's average daily pace.

M&A Chatter Sets Wynn Resorts' Call Options on Fire

According to Trade-Alert, possible M&A chatter is responsible for a surge in WYNN stock and options volume -- with the shares last seen up 1.9% at $106.69, after earlier coming within a dollar of its September annual high. The shares have added more than 23% already in 2017, and broke out this week above previous resistance in the $102-$103 region. Wynn Resorts, Limited calls are changing hands at triple the expected intraday rate today, with likely buy-to-open action spotted on several near-the-money strikes in the front-month March series, which expires at tomorrow's close. That's no huge change of pace for the stock, though. Across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), WYNN calls have been purchased at twice the rate of puts over the past 10 days, with a call/put volume ratio of 2.03 ranking in the top third of the past year's readings.

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