Last month, we took a look at three biotech stocks following a historically bullish month for biotech exchange-traded fund (ETF) SPDR S&P Biotech ETF (XBI). Today, we'd will take a look at two more biotech names as they stage outsized moves in opposing directions.
TG Therapeutics Inc (NASDAQ:TGTX) stock is up 23.2% to trade at $21.20 at last check, and headed for its largest single-day percentage gain since February, after the company's second-quarter earnings beat estimates by 157%. On the charts, TGTX sharply dropped after its July 17, 52-week high of $23.12. And though today's price action hasn't entirely recovered those losses, the equity is up 24.4% this year.
On the other hand, Cassava Sciences Inc (NASDAQ:SAVA) stock is down 15.1% to trade at $30.40 at last look, plummeting from last session's over one-year high of $42.20, which came after the company dropped its defamation suit against four short sellers. Looking to snap a four-day win streak of impressive gains, SAVA is still up 34.3% in 2024.
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