Ocular Therapeutix, Invivo Therapeutics, Immunomedics Stocks Moving Today

Three stocks making big moves on the charts today are Tableau Software, Tuesday Morning, and Avis Budget Group

May 5, 2017 at 2:06 PM
facebook twitter linkedin


Stocks aren't making a meaningful move in either direction today, leaving the Dow at risk for a weekly loss. Among specific biotech stocks on the move are eye care concern Ocular Therapeutix Inc (NASDAQ:OCUL), spinal cord specialist Invivo Therapeutics Holdings Corp (NASDAQ:NVIV), and antibody expert Immunomedics, Inc. (NASDAQ:IMMU). Here's a quick look at what's moving shares of OCUL, NVIV, and IMMU.

Analysts Stay Bullish on Ocular Therapeutix Stock

OCUL stock is down 10.2% today at $8.17 -- and short-sale restricted (SSR) -- after the company's first-quarter results. While the shares have moved back below their 50-day moving average, they once again found support in the $8 area, which has contained pullbacks since mid-February. Cantor Fitzgerald certainly hasn't lost hope. The brokerage firm reaffirmed its "overweight" assessment and $35 price target -- territory not seen since April 2015, and representing a premium of more than 320% to OCUL's current price. It's not alone with this bullish stance, either. Ocular Therapeutix Inc has an average 12-month price target of $29.80. 

Invivo Therapeutics Stock Continues to Fall

Shares of NVIV earlier hit a two-year low of $2.60, and was last seen 16.9% lower at $2.83, putting it near the bottom of the Nasdaq and on the short-sale restricted list. The move follows the company's poorly received first-quarter results. In fact, Raymond James downgraded the stock to "outperform" from "strong buy," and reduced its price target to $6 from $10, saying it's growing cautious toward the approval of the company's spinal cord injury treatment. Invivo Therapeutics Holdings Corp has now lost 64% since topping out at an annual high of $7.94 in August, much to the delight of short sellers. Roughly 10% of NVIV stock's float is sold short, which would take well over two weeks to cover, based on average daily volumes. 

Immunomedics Stock Gains After Seattle Genetics Terminates Agreement

IMMU has rallied 18% to trade at $6.39, making it one of the top gainers on the Nasdaq, on news Seattle Genetics, Inc. (NASDAQ:SGEN) has agreed to terminate its licensing agreement with the company. This brings Immunomedics, Inc.'s year-to-date gain to 74%, and options traders at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) have shown a penchant for long calls. More than 9,500 call options have been bought to open across these exchanges during the past 10 weeks, compared to just 1,351 puts. 

Grab your FREE Eternal Contrarian report!


 




 
Special Offers from Schaeffer's Trading Partners