Several biotech stocks have seen their strength fade over the past week, with their Momentum scores in Benzinga’s Edge Stock Rankings witnessing a significant decline.
Top 4 Biotech Stocks With A Dip In Momentum Scores
In Benzinga’s Edge Rankings, Momentum is calculated based on the relative strength of a stock, taking into consideration its price movements and volatility across multiple time frames, ranked as a percentile against other stocks.
Over the past week, the following biotech stocks have seen big declines in their respective momentum scores, and here’s why?
Shares of Capricor Therapeutics Inc. (NASDAQ:CAPR) have lost steam after the FDA issued a Complete Response Letter rejecting its application for Deramiocel, a cell therapy targeting Duchenne muscular dystrophy. The agency flagged both efficacy concerns and issues with the company’s manufacturing processes.
The stock is down 57.69% year-to-date, and 17.58% over the past month, leading its Momentum scores to drop from 77.57 to 22.12 within just one week.
According to Benzinga’s Edge Stock Rankings, the stock scores poorly on Momentum and Value, with an unfavorable price trend in the short, medium and long terms. Click here for deeper insights into the stock.
2. Lava Therapeutics NV
Dutch biotech company, Lava Therapeutics NV (NASDAQ:LVTX), is down 46.74 points in its Momentum score, dropping from 82.03 to 35.29.
The stock lost its momentum after the company posted a wider-than-expected second-quarter net loss, which was quickly followed by a rating downgrade by Jefferies, from a “Buy” to a “Hold.”
The stock scores poorly on Momentum and Value in Benzinga’s Edge Stock Rankings, but has a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock.
3. Alaunos Therapeutics Inc.
Clinical-stage oncology company, Alanunos Therapeutics Inc. (NASDAQ:TCRT), has seen its Momentum drop 31.48 points within a week, from 56.44 to 24.96, primarily driven by the steep decline in the stock starting mid-July, with no major catalyst or fundamental news to blame.
The stock is still up 15.74% year-to-date, following a 63% decline from its 52-week high of $6.20 during the second week of July.
The stock has a low momentum score, and has an unfavorable price trend in the short, medium and long-terms. Click here for deeper insights into the stock, its peers and competitors.
4. Champions Oncology Inc.
New Jersey-based Champions Oncology Inc. (NASDAQ:CSBR) has been under pressure after its disappointing second quarter results, when it reported a drop in revenue, alongside widening losses. The stock is down 13.90 % year-to-date, and 41.1% from its 52-week high early this year, leading to a 26.44 point drop in its Momentum score, from 78.47 to 52.03.
The stock still scores high on Momentum, but does poorly on Value and Quality, with an unfavorable price trend in the short, medium and long terms. Click here for deeper insights into the stock.
