Three biotechs, along with recent IPO Pinterest (PINS), are among our four charts to watch today.
- G1 Therapeutics Inc. (NASDAQ:GTHX) jumped $4.75, or 24%, to $24.50 on 2.2 million shares Tuesday. The move, on over 5 times its average volume, came on news of encouraging data from the company's phase 2 study of its trilaciclib treatment for metastatic triple-negative breast cancer. The stock has next resistance at its May high at $27.90, a move through which could take it to $30.
- Iovance Biotherapeutics Inc. (NASDAQ:IOVA) gained 45 cents to $22.40 on 2.3 million shares. IOVA was among cancer-therapy stocks moving on Monday's news that Pfizer Inc. (NYSE:PFE) will acquire cancer drug maker Array BioPharma Inc. in a deal worth up to $11.4 billion. The stock is near the top of the rising channel it's been in since gapping up a month ago and could see some consolidation before its next move, with a target of $28.
- Nektar Therapeutics (NASDAQ:NKTR) popped $1.47 to $35.17 on 1.1 million shares Tuesday on no news from the developer of drug candidates for cancer, auto-immune disease, and chronic pain. The stock is in a mini-base pattern and needs to get through its recent double-top at $35.80. A move through there could get it to $38.75 next.
- Pinterest Inc. (NYSE:PINS) rallied 95 cents to $28.80 on 8.7 million shares Tuesday. The move came on no news from the online discovery service, but followed bullish comments and coverage initiation Monday by a Wedbush analyst. After exploding out of its recent IPO and then pulling back, the stock is on the move again. Next target would be the lateral resistance level at about $31.
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Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.