Biotechs on the Move: Cleveland BioLabs, Inc. (NASDAQ:CBLI) Up 5.08%, Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) Up 5.22%
Northern, WI 05/06/2013 (GDPInsider) – Cleveland BioLabs, Inc. (NASDAQ:CBLI) is up 5.08% on trading volume of 150.96K. The stock has a range of 1.80 and 1.87 and is trading down 37.05% on its 52-week high of 2.95. The technical chart shows fluctuation since the start of the year and the stock is presently down 2.36% on its 20-day simple moving average. Movement has been slight but steady enough to push CBLI 2.78% above its 50-day simple moving average.
Cleveland BioLabs, Inc is a clinical-stage biotechnology company with a strong focus on oncology drug development. The company released the findings of study it conducted in conjunction with scientists at Roswell Park Cancer Institute. The study which looked at the role of the liver and how it reacts with Entolimod (CBLB502), a drug currently under development by CBLI. This announcement has in part helped the stock to get some good ratings among analysts and a target price of 3.50 has been set. CBLI has a RSI of 51.81 indicating that the stock is neither oversold nor overbought.
Is CBLI a solid investment at these levels? Get exclusive data and trends here.
Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) opened trading at 4.61 and is up 5.22% with volume of 248.26K. The stock has a range of 4.57 and 4.87 and is trading below its 52-week high of 9.28 by 47.52%. It is however, up 23.29% on its 52-week low of 3.95. The technical chart shows mild fluctuations beneath the $5 a share mark and the stock is presently trading 2.67% above its 50-day simple moving average and 3.95% above its 20-day simple moving average.
Threshold Pharmaceuticals, Inc. released Q1 earnings results on May 2, 2013 and reported revenues of $2.9 million. The company recorded a net loss for the quarter ending March 31, 2013 of $9.2 million and had an operational loss of $6.1 million. Despite these numbers the company’s CEO, Barry Selick, Ph.D., was upbeat. “This was a productive first quarter for Threshold including initiation of a pivotal Phase 3 clinical trial with TH-302 by our partner Merck KGaA,” said Selick in the release. The stock has a RSI of 55.26 and a market cap of 260.13 million.
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