XBIT, GTXI, NDRM Stocks On the Move Today

NDRM is reportedly putting itself up on the auction block, according to Bloomberg

Jun 12, 2017 at 2:22 PM
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The stock market is trading in negative territory, amid a sharp decline in tech shares. Among the names making volatile moves are healthcare stocks XBiotech Inc (NASDAQ:XBIT), GTx, Inc. (NASDAQ:GTXI), and Neuroderm Ltd (NASDAQ:NDRM). Here's a quick look at what's moving shares of XBIT, GTXI, and NDRM.

XBIT Stock Bounces After Friday's Bear Gap

XBiotech shares hit a record low of $2.77 on Friday, eventually settling with a 66% loss, after the drug maker said it was suspending a late-stage study for its colorectal cancer treatment. While the stock was halted earlier on heaving volume -- 7.9 million XBIT shares have traded so far, easily topping the April 21 52-week peak of 2.6 million shares traded in a single session -- it was last seen trading up 41.6% at $4.53. And though XBiotech shares remain short-sale restricted from Friday, there have been plenty of bearish bets levied toward the stock, with 26.5% of its float is sold short.

Drug Data Sends GTXI Stock To the Top of the Nasdaq

GTx shares have surged 81.2% to trade at $5.60, after the biotech reported upbeat preliminary data from a mid-stage study for its stress urinary incontinence treatment in postmenopausal women. The stock is now back in the black on a year-to-date basis, and on track to close north of its 120-day moving average for the first time since Dec. 15.

It looks as if one group of traders may be breathing a sigh of relief, too. Short interest on GTXI stock plunged 20.5% in the two most recent reporting periods, and now accounts for just 1.1% of the equity's available float.

NDRM Stock Soars on Sale Rumors

Neuroderm is reportedly considering putting itself up on the auction block, according to Bloomberg. While the company has said it is not responding to "market rumors," NDRM stock has surged 12.2% to trade at $24.40, and is on track to close north of its 30-day moving average for the first time since May 3. The surge is likely catching short sellers off guard, considering these bearish bets have more than doubled since early February to 1.17 million shares, or four times NDRM's average daily pace of trading.

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