Today’s Research Reports on Trending Tickers: Verastem and Nektar Therapeutics
U.S. market plunged on Friday, but well-off session lows as investors appeared to look at previous signs of escalating trade tension between Washington and Beijing. The Dow Jones Industrial Average fell 0.34 percent to close at 25,090.48, while the S&P 500 Index declined 0.10 percent to close at 2,779.66. The Nasdaq Composite Index shed 0.19 percent to close at 7,746.38.
According to SlateStone Wealth chief investment strategist, Robert Pavlik, “People are worried that the trade issue could turn into something much more serious. It’s obviously never good to think you could be entering a trade war with another major economy, and it brings a lot of uncertainty to the equation.” “That being said, people are still hopeful that this is a lot of chest pounding and negotiation tactics, as opposed to something more lasting. The market could be in a position to give something back if this persists, but unless things really escalate, I don’t think that will last,” Pavlik added.
RDI Initiates Coverage on:
Verastem’s stock jumped 17.03% Friday, to close the day at $6.53. The stock recorded a trading volume of 8,084,847 shares, which was above its three months average volume of 1,587,282 shares. In the last year, Verastem’s shares have traded in a range of 2.05 – 6.61. The share price has gained 218.54% from its 52 week low. The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $5.12 is above its 200-day moving average of $3.83. Shares of Verastem have gained roughly 37.47 percent in the past month and are up 112.7 percent year-to-date.
Access RDI’s Verastem, Inc. Research Report at:
On Friday, shares of Nektar Therapeutics recorded a trading volume of 4,740,658 shares, which was above the three months average volume of 3,778,966 shares. The stock ended the day 2.57% higher at $57.86. The share price has fallen 48.04% from its 52 week high with a 52 week trading range of 17.51 – 111.36. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $73.73 is below its 200-day moving average of $79.27. Shares of Nektar Therapeutics have fallen roughly 26.97 percent in the past month and are down 3.11 percent year-to-date.
Access RDI’s Nektar Therapeutics Research Report at:
Our Actionable Research on Verastem, Inc. (NASDAQ:VSTM) and Nektar Therapeutics (NASDAQ:NKTR) can be downloaded free of charge at Research Driven Investing.
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