Diamonds and Dogs
Celldex Therapeutics Inc. (CLDX)
Celldex Therapeutics is exciting its investors today, up 17.40% to $24.90. The biopharmaceutical company saw its shares rally after positive news from the FDA. The FDA granted rindopepimut (Rintega(R)) Breakthrough Therapy Designation for the treatment of adult patients with EGFRvIII-positive glioblastoma (GBM). This application was based on data from the Phase 2 ReACT study in recurrent GBM, the Phase 2 ACT III study in newly diagnosed GBM and additional supportive Phase 2 studies. Shares of Celldex climbed nearly $4.00 today but are still off of their 52-week high of $33.33.
CyberArk Software Ltd. (CYBR)
CyberArk is getting hit hard today, down 14.13% to $60.34. The IT/cyber security company saw its shares crash after a ratings cut. Analysts at JPMorgan Chase downgraded the security company to "underweight" from "neutral", but maintained its $42 price target on shares. JPMorgan Chase analysts stated that CyberARK's valuation is in-line with Palo Alto Networks, even though CyberArk is about five times smaller in its addressable market size. Shares of CyberArk fell over $9.40 today but are not even close to their 52-week low of $22.12.
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