U.S. markets were dragged lowered Thursday by a continued sell-off in the Biotech and Technology Sectors. The S&P 500 Index declined 2.09 percent to close at 1,833.08, while the Nasdaq Composite Index fell 3.10 percent, the most since 2011, to settle at 4,054.11. "There’s still a continual rotation out of the high-flying momentum stocks of 2013 into more value-driven opportunities," said Stifel Nicolaus portfolio manager Chad Morganlander. "This will continue in the coming weeks as investors look for consistency in earnings. You have concerns about high valuations and flat revenue growth, which is a perfect cocktail for a sector rotation out of growth and into value." Here is how some Biotech companies reacted Thursday:
Neuralstem, Inc. (NYSEMKT: CUR) shares traded in the range of $4.07 to $4.51 Thursday before settling to close at $4.11, a decrease of 11.80 percent. The stock appears to be facing some resistance at the $4.11 and $4.27 levels with some support at $3.77 and $3.50. Shares of Neuralstem have gained approximately 41.0 percent year-to-date.
More information on Neuralstem and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CUR
Kindred Biosciences Inc. (NASDAQ: KIN) shares traded in the range of $15.30 to $17.84 Thursday before settling to close at $15.45, a decrease of 13.45 percent. The stock appears to be facing some resistance at the $16.91 and $18.96 levels with some support at $14.66 and $12.16. Shares of Kindred Biosciences are up approximately 38.0 percent year-to-date.
More information on Kindred Biosciences and access to the free equity report can be found at:
www.WallStreetFundamentals.com/KIN
PTC Therapeutics, Inc. (NASDAQ: PTCT) shares traded in the range of $19.92 to $24.20 Thursday before settling to close at $20.39, a decrease of 13.16 percent. The stock appears to be facing some resistance at the $21.63 and $22.77 levels with some support at $19.34 and $17.29. Shares of PTC Therapeutics are up approximately 20.0 percent year-to-date.
More information on PTC Therapeutics and access to the free equity report can be found at:
www.WallStreetFundamentals.com/PTCT
Regado Biosciences Inc. (NASDAQ: RGDO) shares traded in the range of $6.94 to $8.75 Thursday before settling to close at $7.17, a decrease of 18.34 percent. The stock appears to be facing some resistance at the $7.68 and $8.90 levels with some support at $6.91 and $6.51. Shares of Regado Biosciences are up approximately 50.0 percent year-to-date.
More information on Regado Biosciences and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RGDO
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