Individual investors have bought a combined $180 million of stock in the COVID vaccine makers in recent sessions, says Vanda Research.
The small biotech firm, which was popular on Reddit, saw its market value jump from $200 million in May to over $450 million last Friday.
Investors have increased short bets on healthcare stocks as the industry faces potentially more scrutiny from the Biden administration.
Invitae announced it will acquire the genomics company Genosity for $200 million on Monday after landing a convertible note investment from Softbank.
The blank-check firm announced it will merge with Quantum-Si, a biotech company that has created a semiconductor chip that can analyze proteins.
BioCryst Pharmaceuticals jumped to a 5-year high on Monday, fuelled by spiking interest from Reddit investors. The stock closed 39% higher after surging as much as 41% in intraday trading. The move followed a post on the r/WallStreetBets subreddit that called the company “the most undervalued stock in the market.” […]
Greenwich LifeSciences skyrocketed as much as 2,941% on Wednesday following encouraging phase 2b data for its breast cancer immunotherapy treatment, GP2. A poster presentation for GP2 at the San Antonio Breast Cancer Symposium revealed a 100% survival rate for all participants in its phase 2b clinical trial. Greenwich LifeSciences is […]
Pfizer and BioNTech jumped on Wednesday trading after final analysis of trial data showed their coronavirus vaccine was 95% effective at protecting against COVID-19. Pfizer gained 4% at intraday highs, while BioNTech climbed as much as 8%. The news also helped drive major indexes higher. The companies now plan to […]
Five Prime Therapeutics soared as much as 386% on Tuesday after the biotechnology company released positive results for its phase 2 trial evaluating bemarituzumab in stomach cancer. Five Prime’s Phase 2 FIGHT trial met all three primary endpoints of its study, including an improvement in progression-free survival. “These results bring […]
Moderna and BioNtech surged in Thursday trades amid updates on the development of a COVID-19 vaccine. Investor focus on a potential vaccine is heightened as daily COVID-19 cases spike across the US and in Europe. Moderna said it’s “actively preparing for the launch” of its COVID-19 vaccine, while a report […]
Inovio Pharmaceuticals tumbled as much as 40% in early Monday trading after the biotech firm announced a temporary hold on its coronavirus vaccine’s phase 2/3 trial. The study is on “partial clinical hold” until questions asked by the Food and Drug Administration are answered, Inovio said in a press release. […]
Billionaire hedge fund manager Seth Klarman slimmed some of his biggest tech holdings and grew positions in healthcare stocks during the second quarter, new SEC filings show. Baupost Group slashed its Facebook and Alphabet stakes by 57% and 29%, respectively. Klarman shifted considerable cash into healthcare stocks. A new position […]