Ovid Therapeutics Inc (OVID) and Solid Biosciences Inc (SLDB) are two biotechnology stocks that have shown mixed performance in the market. OVID has an overall rating of 74, scoring better than 74 percent of all stocks. However, OVID is currently down -5.57% while the S&P 500 has risen 0.09%. Over the past year, OVID has experienced a significant increase of 62.71%. On the other hand, SLDB has a rating of 76, putting it near the top of the biotechnology industry. SLDB has an overall score of 61, higher than 61% of all stocks. The stock has fallen -0.85% while the S&P 500 is higher by 0.25% on January 4. Over the past year, SLDB is lower by -0.70%. SLDB lost -$5.15 per share over the last 12 months [a8cd27cf].
In addition to OVID and SLDB, there are several other biotechnology stocks worth considering for investment. Anavex Life Sciences Corp (AVXL) has also shown positive performance in the biotechnology sector. With an overall rating of 46, the stock scores higher than 46 percent of stocks. Currently trading at $6.74, AVXL has experienced a 5.99% increase from the previous closing price. However, the volume of shares traded today is lower than average, with 382,519 shares traded so far.
Goldman Sachs analyst Andrea Tan has identified two biopharmaceutical companies, Krystal Biotech and Iovance, that are expected to experience significant gains in the coming months. Krystal Biotech recently received FDA approval for its gene therapy product, Vyjuvek, and has a promising pipeline of drug candidates. Iovance is focused on developing personalized cancer treatments using tumor-infiltrating lymphocytes. Both stocks have a strong consensus rating from analysts and are expected to have substantial upside potential. Krystal Biotech has a price target of $160, implying a 58% gain, while Iovance has a price target of $12, suggesting a 130% gain.
There are also several undervalued biotech stocks that could be worth considering. These stocks include Regeneron Pharmaceuticals (REGN), BioNTech (BNTX), Halozyme Therapeutics (HALO), Corcept Therapeutics (CORT), Incyte Corporation (INCY), Genmab (GMAB), and Kiniksa Pharmaceuticals (KNSA). Each stock is discussed in terms of its performance, valuation, and recent earnings reports. These stocks may offer potential upside for investors.
Ocular Therapeutix (OCUL) is another biotechnology stock that recently experienced a gap down. The shares gapped down to $9.70 from a previous close of $9.70. The stock opened at $9.46 and last traded at $9.77 with a volume of 427,777 shares. Several research analysts have commented on the stock, with one downgrading it to a 'sell' rating and four giving it a 'buy' rating. The consensus rating is 'Moderate Buy' with a price target of $14.25. The company has a current ratio of 4.03 and a quick ratio of 3.96. Insiders have sold 39,366 shares of company stock valued at $194,862, and institutional investors own 54.42% of the stock. Ocular Therapeutix focuses on the formulation, development, and commercialization of therapies for eye diseases and conditions using its bioresorbable hydrogel-based formulation technology. The company markets ReSure Sealant, an ophthalmic device to prevent wound leaks in corneal incisions following cataract surgery, and DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery and allergic conjunctivitis.
Shares of Avidity Biosciences, Inc. (NASDAQ:RNA) traded up 9.2% during trading on Friday, reaching a high of $20.24 and last trading at $19.99. The stock had a trading volume of 1,068,489 shares, an increase of 2% from the average session volume of 1,051,467 shares. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -6.92, and a beta of 0.55. Avidity Biosciences is a biopharmaceutical company that develops oligonucleotide-based therapies. The company's lead product candidate, AOC 1001, is currently in a phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease. The stock has received positive ratings from analysts, with a consensus rating of 'Buy' and an average price target of $31.60. Insiders have sold a total of 12,696 shares of company stock worth $128,610 in the last quarter. Institutional investors have also made changes to their positions in the company. American International Group Inc. boosted its position in Avidity Biosciences by 4.2% in the fourth quarter, while Price T Rowe Associates Inc. MD boosted its position by 4.5%. Other institutional investors include Virtus ETF Advisers LLC and Barclays PLC. [9f24087a]
RTW Investments LP, a prominent investment firm, recently acquired 605,816 shares of Viridian Therapeutics, Inc. (NASDAQ:VRDN) valued at approximately $13,195,000. This investment indicates confidence in the biotechnology company, which develops treatments for serious and rare diseases. Viridian Therapeutics' product pipeline includes VRDN-001, a monoclonal antibody targeting insulin-like growth factor-1 receptor that is in Phase 3 clinical trial for the treatment of thyroid eye disease (TED); and VRDN-003, a next-generation IGF-1R humanized monoclonal antibody targeting IGF-1R and incorporating half-life extension technology for the treatment of TED. The company reported earnings per share of ($0.79) for the quarter, surpassing the consensus estimate of ($1.07) by $0.28. The company's revenue for the quarter was $0.07 million. Analysts have given VRDN an average rating of 'Moderate Buy' and a consensus target price of $33.55. Other large investors have also made changes to their holdings of the company, indicating continued interest and potential growth in Viridian Therapeutics.
CenterBook Partners LP has also made an acquisition in the biotech sector. They acquired 25,383 shares of Radian Group Inc. (NYSE:RDN) during the fourth quarter, valued at approximately $725,000. Radian Group Inc. is a mortgage insurance company that provides credit enhancement for residential mortgage loans. The company has a market capitalization of $4.66 billion, a PE ratio of 8.18, and a beta of 1.04. RDN has been the subject of several recent research reports, with an average rating of 'Hold' and a consensus price target of $31.13. Insiders have sold a total of 117,004 shares of company stock valued at $3,651,517 in the last three months. Radian Group Inc. will pay a quarterly dividend of $0.245 per share on June 20th, representing an annualized dividend yield of 3.17% [434cf545].