3 Biotechs on the Move

Three biotechs, along with recent IPO Pinterest, are among our four charts to watch today.

G1 Therapeutics, Inc. GTHX jumped $4.75, or 24%, to $24.50 on 2.2 million shares Tuesday. The move, on over 5 times 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 cents to $22.40 on 2.3 million shares. IOVA was among cancer-therapy stocks moving on Monday’s news that Pfizer Inc. will acquire cancer drug maker Array BioPharma Inc. 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, Inc. PINS rallied 95 cents 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.

See Harry’s video chart analysis on these stocks and others:

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