Healthcare and biotech stocks have lagged broader markets this year, but a growing number of names have been picking up steam as the market rally broadens and major indexes continue to reach new highs. Here’s a look at four stocks flashing strong momentum signals.
Gaining Speed
Benzinga's Edge Stock Rankings system evaluates stocks based on factors such as momentum, growth, value and quality. The momentum score serves as a key signal for traders looking to capture short-term trends and potential follow-through moves.
Spotting early momentum shifts can help traders stay ahead of broader market swings. Over the past week, Benzinga's system highlighted four stocks that have posted sharp increases in bullish momentum.
Galecto Inc. (NASDAQ:GLTO), a company focused on developing small-molecule drugs targeting fibrosis and cancer, saw the largest increase in momentum this week, rising from a score of 9.3 on Oct. 1 to 96.64 this week. The stock is trading far above its 50-day moving average of $3.77 at $15.70.
The next biggest rise in momentum came from Xenetic Biosciences Inc. (NASDAQ:XBIO). Xenetic develops cancer treatments that help the immune system fight tumors. It saw a momentum gain of 75.56 points, rising from 21.97 to 97.53. The stock is also trading above its 50-day moving average of $3.23 at $9.70.
The third largest increase in momentum score came from Universe Pharmaceuticals Inc. (NASDAQ:UPC). It went from a score of 12.95 to 82.24. The stock is trading above its 50-day moving average of $4.02 at $6.40, per data from Benzinga Pro. It’s also up more than 50% over the past month.
Alaunos Therapeutics, Inc. (NASDAQ:TCRT) rounds out the list this week, gaining 68.77 points since last week to rise from 15.88 to 84.65. The stock is trading above its 50-day moving average of $2.43 at $3.95 and has gained more than 60% over the past month. Alaunos develops cell therapies that use a patient's own immune cells to fight cancer.
Price Action: At the time of publication on Thursday, Galecto stock is trading 28.27% higher at $13.85, Xenetic shares are trading 9.27% lower at $9.40, Universe shares are trading 33.30% lower at $6.31, and Alaunos shares are trading 6.49% higher at $3.96, according to data from Benzinga Pro.
Read Next:
Image via Shutterstock
