Stocks are sliding today, with the Dow's chances of a ninth straight win appearing quite bleak. Among stocks making particular noise today, biotech Inovio Pharmaceuticals Inc (NASDAQ:INO) and Chinese automotive parts manufacturer Sorl Auto Parts, Inc. (NASDAQ:SORL) are enjoying strong upside moves, while online retailer Vipshop Holdings Ltd (NYSE:VIPS) languishes. Here's a closer look at what has shares of INO, SORL, and VIPS moving today.
HIV Vaccine Data Lifting Inovio Stock
Inovio stock is up 5.7% to trade at $5.00, after the company reported positive early data on Pennvax-GP, its HIV vaccine. The drug company reported near 100% immune responses in patients a year since study started. INO stock has now added 21% in 2018, and is hoping to finish above its 200-day moving average for the first time since October.
Analysts remain staunchly in the biotech's corner. All five of the brokerages covering INO rate it a "buy" or "strong buy." Furthermore, the security's average 12-month price target of $11 is more than double its current perch.
Earnings Beat Powering Sorl Auto Parts Stock
Sorl Auto Parts stockis up 13.2% to trade at $5.93 -- one of the best stocks on the Nasdaq today -- after the company's first-quarter earnings and sales topped analyst expectations. SORL shares are pacing for their best single-day performance of 2018, and on track to finish above their 160-day moving average for the first time since their early April bear gap.
Short interest on SORL continues to rise, having increased by nearly 14% in the two most recent reporting periods, to 1.68 million shares -- the most since mid-December. This represents more than 21% of SORL's total available float, and more than 12 days of pent-up buying power, at the equity's average pace of trading.
Profit Miss Buries VIPS Stock
Vipshop stock is down 20% to trade at $12.02 -- one of the worst stocks on the New York Stock Exchange (NYSE) today -- after the Chinese internet retailer reported first-quarter profit below analyst expectations. The firm also issued lower-than-forecast second-quarter guidance. VIPS stock is now on track for its worst single-day performance since November 2015, and is in danger of closing below its 200-day moving average for the first time this year.
In the options pits today, puts have been quite popular. VIPS has seen roughly 17,000 puts change hands -- 11 times the average intraday volume and pacing for an annual high. The most popular is the May 13.50 put, although it is unclear if they are being bought to open.