GTHX and YTEN are both moving sharply today
Biotech stocks are a tricky bunch, prone to wild moves and technical patterns that are tough to nail down. Anytime a stock in the volatile sector makes a big move, it's worth looking under the hood.
This week in Cheap Seats: Stocks Under $20 segment, we're analyzing two biotech stocks making outsized moves: G1 Therapeutics Inc (NASDAQ:GTHX) and Yield10 Bioscience, Inc. (NASDAQ:YTEN).
GTHX is up 18.4% at $5.08 at last check, although the specific catalyst behind this pop is unclear. The shares gapped 9.6% higher on May 1 after the company's earnings beat, and are now trading at their highest level in over a year. The stock has come a long way from its Oct. 9 record low of $1.08.
YTEN, meanwhile, is up 20.6% to trade at $6.14, again with no clear catalyst. The shares have been range-bound between $5 and $10 since a mid-August bear gap into penny stock territory. With the crop yield stock still below all major moving averages, investors will want to see more of a sustained push higher before circling back.
Both GTHX and YTEN don't have a ton of contrarian opportunities, with only a few firms in coverage and both stocks' total available float sold short coming in at only 5.3% and 1.6%, respectively. With that said, the two equities are off their lows, and any more major moves should be a signal to investors to check back in.