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EnteroMedics and GenVec Post Substantial Gains as the NASDAQ is Pushed to Record High

NEW YORK, NY / ACCESSWIRE / January 10, 2017 / The Dow Jones Industrial Average pulled back Monday after nearly breaking the 20,000 point plateau Friday. Declines by financial and energy sectors pressured the Index lower. On Monday, the Dow declined 0.38 percent to close at 19,887.38, in its previous session the Dow touched a high of 19,999.63. "Our view about the Dow (hitting) 20,000 is not a matter of if, but a matter of when," said Matt Jones, U.S. head of equity strategy at J.P. Morgan Private Bank in New York.

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The NASDAQ Composite Index gained 0.19 percent to close at 5,531.82. The NASDAQ hit a new all-time high of 5,541.08 during Monday's session. The iShares NASDAQ Biotechnology Index ETF gained 1.43 percent as healthcare stocks helped pushed the Index higher. On Monday, 46 companies/listed funds on the NASDAQ hit a new 52-week high, while 11 hit 52-week lows.

RDInvesting Takes a Closer Look at the NASDAQ's Top Movers

EnteroMedics Inc. (NASDAQ: ETRM)

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EnteroMedics' shares soared 92.60 percent to close at $17.70 a share Monday. The stock traded between $10.72 and $19.20 on volume of 35.7 million shares traded. On January 5th, the company announced that its vBloc Neurometabolic Therapy has now been implanted at two additional vBloc Institutes – MedStar Health in Maryland and Roper St. Francis in South Carolina. vBloc Therapy works to control sensations of hunger using a pacemaker-like device that is implanted under the skin during a safe, minimally-invasive procedure that does not alter or remove any patient anatomy. Shares of EnteroMedics are up approximately 785 percent year-to-date.

GenVec Inc. (NASDAQ: GNVC)

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GenVec's shares spiked 35.79 percent to close at $4.97 a share Monday. The stock traded between $3.68 and $5.10 on volume of 960,479 shares traded. On January 5th, the company announced that it had entered into an exclusive option agreement with Washington University in St. Louis to license intellectual property and technology related to gene editing and pulmonary endothelial cell targeting.

"This agreement provides GenVec with the foundation to establish a proprietary and differentiated program using an individual's pulmonary endothelium as a site for protein production," said Douglas Swirsky, president and CEO of GenVec. "Proprietary vectors from our AdenoVerse platform are well suited for the delivery of gene editing payloads and could be useful in emerging therapeutic approaches to the long-term correction of genetic disorders such as those that cause blood factor deficiencies."

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We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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