A handful of biotech stocks are showing renewed strength, with big spikes in their Benzinga Edge Ranking’s Momentum scores over the past week alone.
Top 3 Biotech Stocks With A Big Surge In Momentum
In Benzinga’s Edge Stock Rankings, stocks are ranked as a percentile based on Quality, Value, Growth and Momentum. The Momentum score takes into account the price movements and volatility of a particular stock across multiple time frames, before ranking them individually as a percentile against all other stocks.
See Also: 4 Software Stocks Climb Into Top Growth Ranks
Over the past week, these three biotech stocks have seen significant improvements in their respective momentum scores, and here's why?
1. Dianthus Therapeutics Inc.
Clinical stage biotechnology company, Dianthus Therapeutics Inc. (NASDAQ:DNTH), is up 90% over the past month, after reporting positive Phase 2 trial results for its lead asset, claseprubart (DNTH103), in generalized myasthenia gravis, a rare, chronic autoimmune disease.
The stock popped following the results, and its Momentum score has surged from 31.69 to 88.24 over the past 7 days alone.
According to Benzinga’s Edge Stock Rankings, the stock scores high on Momentum, and has a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.
2. Korro Bio Inc.
A biopharmaceutical company that focuses on genetic medicines based on RNA editing, Korro Bio Inc. (NASDAQ:KRRO) has soared in Benzinga’s Momentum rankings by 50.26 points, from 22.39 to 72.65, within just the span of a week.
This can be attributed to the company’s recently secured Orphan Drug Designation from the European Medicines Agency for its lead RNA-editing therapy, KRRO-110, aimed at treating alpha-1 antitrypsin deficiency (AATD), an inherited genetic disorder.
The stock does well on Momentum, and has a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock and to see how it compares with the others on this list.
3. Centessa Pharmaceuticals PLC
UK-based Centessa Pharmaceuticals PLC (NASDAQ:CNTA) is a clinical-stage pharmaceuticals company that is seeing growing investor enthusiasm around its orexin-2 receptor agonist, ORX750. The drug is currently in a mid-stage Phase 2a trial (CRYSTAL-1) targeting narcolepsy and idiopathic hypersomnia.
The stock witnessed a 48.75 point jump in its Momentum score, from 38.07 to 86.82, with a 42.85% spike over the past week alone.
According to Benzinga’s Edge Stock Rankings, the stock scores high on Momentum, and has a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock.
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