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3 Biotechs on the Move

06/19/2019 2:00 pm EST

Focus: STOCKS

Harry Boxer

Author, The Technical Trader

These three biotech stocks, along with recent IPO Pinterest could make big moves today, says Harry Boxer.

Three biotechnology sector stocks , along with recent IPO Pinterest Inc. (PINS), are among our four stocks to watch today.

G1 Therapeutics, Inc. (GTHX) jumped $4.75, or 24%, to $24.50 on 2.2 million shares Tuesday.  The move, on more than 5x 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. (IOVA) gained 45¢ to $22.40 on 2.3 million shares.  IOVA was among cancer-therapy stocks moving on Monday's news that Pfizer Inc. (PFE) will acquire cancer drug maker Array BioPharma Inc (ARRY). 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 (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 rallied 95¢ 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.

No holdings.

Harry Boxer is founder of TheTechTrader.com, a live trading room featuring his stock picks, technical market analysis, and live chart presentations.

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