These Biotech Stocks Are Red Hot Right Now.
Biotech stocks continue to show promise to investors who bet on them. Could this be the right time to jump on the biotech bandwagon? Opportunities for overnight astronomical gains could happen when biotech companies report successful clinical results or regulatory approval. Take Rubius Therapeutics (NASDAQ: RUBY) for instance that had skyrocketed by over 80% yesterday. This impressive leap was after announcing that its new treatment is showing positive early results. Its RTX-240 treatment was shown to have the potential to reduce cancer tumors in some patients. As you may know, cancer is one of the hardest diseases to treat today and Rubius could be one of the biotech companies to change this.
Another example of an amazing biotech company this year is Novavax (NASDAQ: NVAX). Novavax is a vaccine development company that has risen by over 3,000% in the last year alone. Last week, the company announced a 96.4% efficacy against mild, moderate, and severe disease caused by the original coronavirus strain in its Phase 3 trial in the UK. My point is that, given how these biotech stocks have shown amazing gains to investors who bet on them, could these top biotech stocks follow suit and be worth adding to your portfolio right now?
Top Biotech Stocks To Watch Right Now
- Annovis Bio Inc. (NYSE: ANVS)
- Fulgent Genetics Inc. (NASDAQ: FLGT)
- Moderna Inc. (NASDAQ: MRNA)
- ChromaDex Corporation (NASDAQ: CDXC)
Annovis Bio Inc.
Annovis is a biotech company that is developing a new treatment for Alzheimer’s and Parkinson’s disease. In detail, it focuses on developing drugs to prevent neurodegeneration by improving axonal transport. This would be the information highway of the nervous system. Leading its pipelines is ANVS401 which inhibits the production of multiple neurotoxic brain proteins. ANVS stock is up by over 13% as of 10:47 a.m. ET. The rally today seems to come after it shared positive data for its ANVS401 in the treatment of Parkinson’s.
The company reported that its interim data showed ANVS401 had improved speed and coordination in Parkinson’s patients after 25 days of treatment. On top of that, there were no serious adverse events. Also, the safety profile of the treatment in its interim analysis was consistent with prior safety data. There is certainly a lot of potential for the company as this could be the first of the many game-changing treatments for neurodegenerative diseases to come from Annovis. With that in mind, will you consider buying ANVS stock?
Fulgent Genetics Inc.
Fulgent is a biotech company that strives to create the most effective and wide-ranging tests on the market. It also provides comprehensive testing solutions through its scalable platform. Additionally, by combining next-generation sequencing (NGS) with its technology platform, Fulgent performs full-gene sequencing with deletion and duplication analysis in an array of panels. This can be tailored to meet specific customer needs and also allow the company to sequence many types of viruses. FLGT stock is up by over 5% on today’s opening bell and currently trades at $109.84 as of 11:24 a.m. ET. Investors seem to be responding to a press release by Fulgent.
In it, the company reports that it was awarded a contract by the U.S. Centers for Disease Control and Prevention (CDC) to provide genomic sequencing of samples of the coronavirus on an ongoing basis, leveraging the company’s NGS capabilities. Earlier this month, the company also reported its fourth-quarter and full-year 2020 financials. Unsurprisingly, it has been a record quarter for the company as it reported a revenue of $295 million, which is an increase of over 3,400% year-over-year. It has truly been a transformational year for the company, which is now one of the top providers of coronavirus testing in the country. All things considered, will you buy FLGT stock?
Moderna is a vaccine company that has been advancing messenger RNA (mRNA) science to create a new class of transformative medicines for patients. In addition to that, the company has been one of the biggest names in the biotech sector recently as it was at the forefront of vaccine development. Its mRNA science is also being used to develop a robust pipeline of new drugs in the long run. Amongst them, Moderna is developing therapeutics for infectious diseases, immuno-oncology, and cardiovascular diseases. MRNA stock has been up by over 400% in the last year.
Today, the company announced that the first participants dosed in its Phase 2/3 study of its coronavirus vaccine candidate in the pediatric population. The trial involving vaccine candidate mRNA-1273 will target children ages 6 months to less than 12 years. Moderna will be one of the first vaccine companies to begin vaccination for children. In the company’s fourth-quarter financials last month, it reported a revenue of $571 million. In detail, the increase for the quarter was driven by increases in grant revenue and product sales. Given how the company has already started selling its vaccines this year at full speed, will you consider buying MRNA stock?
ChromaDex is a biotech company that is dedicated to healthy aging. The company is a pioneer in research on nicotinamide adenine dinucleotide (NAD+), levels that decline with age. It partners with universities and research institutions worldwide to discover, develop, and create solutions to deliver the full potential of NAD+. CDXC stock is up by over 11% as of 11:26 a.m. ET. Last week, the company reported its fourth-quarter financial results. In it, ChromaDex reported a total net sales of $15.4 million, up by 18% sequentially.
Being a world leader in NAD+, the company will continue to grow its Tru Niagen brand by extending partnerships and furthering its scientific advancements in the field. It also recently announced that Tru Niagen will be available in 3,000 Walmart stores across the U.S. starting from June 2021. There is certainly a lot to look forward to from the company as Tru Niagen could be one of the most important new dietary supplements to emerge in the last few years. This is because the supplement is able to safely increase NAD+ levels, which is a central regulator in energy metabolism. Given that there is a growing body of clinical research to suggest that nicotinamide riboside (NR) which is the main component in Tru Niagen, may support important areas in human health would further propel the demand for the company’s product. For these reasons, will you consider buying CDXC stock?