Aircraft Stock Blasts Off After Boeing Deal; Drug Data Sends Biotech Stock Soaring

Short sellers could be feeling the heat as ONCE stock hits record highs

Aug 2, 2017 at 3:26 PM
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U.S. stocks are trading higher today, as a rally in Apple shares pushed the Dow past the 22,000 mark for the first time ever. Among other names in the spotlight are aircraft equipment manufacturer Spirit AeroSystems Holdings, Inc. (NYSE:SPR), gene therapy stock Spark Therapeutics Inc (NASDAQ:ONCE), and discount service provider Groupon Inc (NASDAQ:GRPN). Here's a quick look at what's moving shares of SPR, ONCE, and GPRN.

SPR Stock Skyrockets After Boeing Deal

Spirit AeroSystems stock is up 16.2% to trade at $70.90, and just hit a record high of $72.89, after the company struck a tentative deal with Boeing on pricing terms for aircraft supplies. The company also reported a second-quarter earnings beat, and raised its full-year profit forecast. SPR's surge could attract bullish analyst attention. More than half of the 14 analysts following SPR currently rate it a "hold" or worse.

Upbeat Drug Data Sends Spark Therapeutics to Record High

Spark Therapeutics stock is up 19.6% to trade at $79.62, and earlier notched a record high of $80.89, after upbeat data on the company's bleeding disorder drug. As such, ONCE stock is one of the best stocks on the Nasdaq today, and no fewer than five analysts gave ONCE price-target hikes, the highest being $97 from Leerink.

Up 59.6% year-to-date, Spark Therapeutics stock recently broke through resistance in the $65 area and hasn't looked back. A short squeeze could add fuel to ONCE stock's fire, too. Short interest represents more than 13.5% of the equity's total available float, and would take more than two weeks to buy back, at ONCE shares' average daily trading volume.

Groupon Jumps After Earnings Beat

A second-quarter earnings beat has Groupon stock up 8.3% to trade at $4.20 -- the highest GPRN has hit since early March. The stock is now close to filling an early February bull gap, and could end atop its 320-day moving average for the first time in five months.

Over the past two reporting periods, short interest on GRPN has grown roughly 26%, to represent 45.38 million shares. At GRPN's average daily trading volume, it would take more than seven sessions to buy back these shorted shares. The stock's ability to surge amid such selling pressure speaks to its underlying strength, with Groupon stock up more than 10% in the past month. 

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