Abeona Therapeutics Inc.
Abeona (NASDAQ:ABEO) rocketed $1.75, or 18%, to close at $11.25 on very heavy volume of 2.7 million shares traded Tuesday. The move came on news that the FDA granted breakthrough therapy status to the company's skin healing therapy. The stock had been pulling back in a flag pattern after its July high at $10.26, and recently broke out of the flag, with Tuesday's move thrusting the stock through that July high. In the short term, price may reach $14-$15, and may well climb to $17.50 in the longer term. Short interest of 10.8 times its average volume could fuel the move as shorts cover on a rally.
Health Insurance Innovations Inc.
Health Insurance Innovations (NASDAQ:HIIQ)) reached an all-time high of $36.70 on Tuesday before settling to close at $35.95, up by $1.10, on heavy volume of 874,532 shares traded and no news. The online insurance stock has risen more than 150% since March 27 and 33% since its positive earnings announcement on August 3. Price broke out of a bull flag consolidation pattern August 24. Next target range: $39-$40.
ImmunoGen Inc.
ImmunoGen (NASDAQ:IMGN) popped 17% to close at $7.58 on a whopping 12 million shares traded -- that is more than four times its average volume and the largest volume the stock has seen since January. The move came on news that the cancer drug company will collaborate with Jazz Pharmaceuticals on the development of blood cancer therapies. If price can move through the prior high of $8.04 from July 6, the next targets will be $9.50 and $12.50.
Sangamo Therapeutics Inc.
Sangamo Therapeutics (NASDAQ:SGMO) rose 11%, or $1.30, and closed at $12.80 on heavy volume of 3.3 million shares traded. Price broke above the prior high of $12.05 from August 14. The gene therapy company recently began a clinical trial with Pfizer (NYSE:PFE) for a hemophilia treatment. Price is up 250% year to date. The near-term target is $13 and the possibility for acceleration up to $17 in the coming weeks.