2 Healthcare Stocks Making Massive Moves Today

Arca Biopharma stock has more than doubled on big publishing news

Managing Editor
May 1, 2019 at 2:38 PM
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Payrolls data and a big earnings win out of Apple (AAPL) have U.S. markets comfortably higher today. Among other names making notable moves are medical device maker Pulse Biosciences Inc (NASDAQ:PLSE), as well as pharma name Arca Biopharma Inc (NASDAQ: ABIO). Below we will dive into what is moving shares of PLSE and ABIO.

FDA Note Triggers Pulse Plunge

Shares of PLSE are tanking this afternoon, last seen 27.8% lower at $11.56, after the company received a request from the Food & Drug Administration (FDA) for more information on its skin-related procedure system, CellFX. Pulse Biosciences said it will take additional testing and time before it can respond to the regulators' request.

PLSE shares are set to close below their 200-day moving average for the first time sine late January. The biotech is one of the worst stocks on the Nasdaq today, and is testing its year-to-date breakeven level. 

While options volume tends to run light on PLSE, the security's Schaeffer's put/call open interest ratio (SOIR) of 0.03 registers below 99% of all comparable readings taken in the past year. In other words, short-term speculators are more call-heavy than usual.

ABIO More Than Doubles on Publication News

On the flip side of the Nasdaq today is ABIO, up a whopping 125.8% at $11.64, after having its Genetic-AF phase 2B trial results published in the Journal of American College of Cardiology. ABIO is now on pace for its highest close since November, set to break back above the historically resistant $10 level.

Currently, just one analyst is covering the drug concern, sporting a "strong buy" recommendation and 12-month price target of $16.20 -- a more than 37% premium to current levels. A flood of upbeat analyst initiations could lure more buyers to ABIO.

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