Shares of biotech stocks have seen significant moves this week on low volume and positive news.
One of the biggest moves happened Wednesday morning as NephroGenex Inc (NASDAQ: NRX) soared over 260 percent to $16.70. The price action followed positive news on its Pyridorin drug study.
Neuroderm Ltd (NASDAQ: NDRM) spiked up nearly 200 percent Tuesday to $18.14 before giving back some of the gains on Wednesday. The stock made its move after the company announced promising results from its Parkinsons drug study. The stock traded at $16.30 Wednesday, down 10 percent.
Arrowhead Research Corp (NASDAQ: ARWR) has posted gains of 19 percent since Friday and recently traded at $7.75, up 4 percent.
Over the past five days, shares of Rockwell Medical Inc (NASDAQ: RMTI) have risen 20 percent to $10.
RedHill Biopharma Ltd (ADR) (NASDAQ: RDHL) has been another winner as shares spiked Wednesday to $13.50, up 25 percent.
Shares of Cytokinetics, Inc. (NASDAQ: CYTK) are up 17.55 percent since Friday. The stock added to the gain Wednesday, recently trading at $7.26, up 5.3 percent.
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