The Strongest Biotech Stock In The Market

For now, it seems as if the market has calmed down a bit.

Over the last month the market saw the S&P 500 drop almost exactly 10 percent from its high before finally finding it’s footing last Wednesday.

Most stocks got hit pretty hard during that drop, but some held up relatively well. Other stocks may have sold off with the overall market, but then popped nicely once the sell-off was over.

So, it certainly wouldn’t be a bad thing to isolate stocks that have far outperformed the market since the Wednesday bottom.

For example, the S&P has rallied almost 4 percent since its low of 1820 last week. However, there’s one biotech stock that not only bottomed 2 days before the market did, but that same stock also more than doubled since that bottom.

Take a look at the chart of Newlink Genetics Corp. (NASDAQ: NLNK)

As you can see from the chart above, even though the market bottomed last Wednesday, Newlink bottomed two days prior.

Once hitting the $17.50 mark, the stock has now hit an intraday high of almost $37 and is still trading near $35.

The rally that Newlink has embarked on is the strongest price performance of all biotech stocks within the Newlink’s general price and volume range.

Obviously, investors must conduct their own due diligence before investing in any stock, and after such a serious run it may be time for a cool off. However, if traders believe the market’s rally has legs then keeping stocks like Newlink in the watch list could certainly be worth doing.

Posted to The Biotech Trader on Oct 20, 2014 — 12:10 PM
Comments ({[comments.length]})
Sort By:
Loading Comments
No comments. Break the ice and be the first!
Error loading comments Click here to retry
No comments found matching this filter
Want to add a comment? Take me to the new comment box!