Hello, Alpha universe! Welcome to yet another week of stock picks and movers. This is Inside Alpha, where I choose three stocks within a specific sector at the beginning of the week, and then track their progress throughout the week. At the end, we select a winner based on best price performance percentage-wise; this winner will be known as the Alpha.
This week we’ll be examining three selected stock picks from the sometimes-volatile biotechnology sector. So, let’s see what our three carefully chosen biotech picks will be!
Our first biotech sector stock for the week is Zafgen, Inc. (ZFGN). Headquartered in Boston Massachusetts, Zafgen is a clinical-stage biopharmaceutical company which develops therapies for patients suffering from a range of ailments including diabetes and Prader-Willi syndrome.
It wasn’t long ago that Zafgen first initiated an underwritten public offering of its common stock, so this stock could prove to be a ground-floor opportunity. Last week we saw ZFGN stock shares finish at $9.51, so let’s watch this one to see how it progresses.
Next up in the biotech industry is Ultragenyx Pharmaceutical Inc. (RARE). Based in Novato, California, Ultragenyx Pharmaceutical Inc. is a biopharmaceutical firm that focuses on the various products to treat rare genetic diseases.
When this company recently announced that the first patient has been dosed in a Phase 1/2 study of DTX401, an adeno-associated virus vector-based gene therapy for the treatment of patients with glycogen storage disease type Investors in Ultragenyx were undoubtedly pleased with this news. At the end of last week’s trading, stock shares of RARE closed at $71.81, and I’m interested to see how the stock moves this week.
Our final selection in the biotech space this week is Viking Therapeutics, Inc. (VKTX). Located in San Diego, California, Viking Therapeutics, Inc. is a biopharmaceutical firm focused on the development of therapies for metabolic and endocrine disorders.
Traders and investors certainly paid attention when Viking Therapeutics, Inc. recently announced that the results from their Phase 2 study of VK5211 in patients recovering from hip fractures had been selected for presentation as part of an upcoming American Society for Bone and Mineral Research annual meeting. With that positive development in mind, we also have noted that VKTX stock shares finished last week’s trading at $10.25. The upcoming trading days could reflect more interesting developments for VKTX stock.
These three biotechnology sector picks could see some interesting price action throughout the week. Keep on checking back for updates and by the end of the week, you’ll know who the big winner will be: The Alpha!