Diamonds and Dogs
Exelixis, Inc. is up more than 50% today to a new 52-week high of 5.96. The biotech company released positive results from its phase 3 trial for its kidney cancer treatment, Cometriq. Investors had been waiting a year for these results after the drug failed in its trial for prostate cancer. This solid data has spurred some confidence in investors, as the daily volume is at 63 million compared to its average of 3 million.
HMS Holdings Corp (HMSY)
HMS Holdings is down 19% to 12.93 today after reporting that its biggest customer, New Jersey Department of Human Services, has moved its business elsewhere. HMS Holdings reported earlier this year that it signed a 3-month extension with the State of New Jersey. Now, cash flows and the company's financial condition may take a hit from losing its largest customer. HMS hit its 52-week low today, so investors are waiting to see if the company can prove that it will keep a strong financial standing.