handful of biotech stocks are showing renewed strength, with big spikes in their Benzinga Edge Ranking's Momentum scores over the past week alone.
In Benzinga's Edge Stock Rankings, stocks are ranked as a percentile based on Quality, Value, Growth and Momentum. The Momentum score takes into account the price movements and volatility of a particular stock across multiple time frames, before ranking them individually as a percentile against all other stocks.
Over the past week, these three biotech stocks have seen significant improvements in their respective momentum scores, and here's why?
1. Dianthus Therapeutics Inc.
Clinical stage biotechnology company, Dianthus Therapeutics Inc.
The stock popped following the results, and its Momentum score has surged from 31.69 to 88.24 over the past 7 days alone.
According to Benzinga's Edge Stock Rankings, the stock scores high on Momentum, and has a favorable price trend in the short, medium and long terms.
2. Korro Bio Inc.
A biopharmaceutical company that focuses on genetic medicines based on RNA editing, Korro Bio Inc.
This can be attributed to the company's recently secured Orphan Drug Designation from the European Medicines Agency for its lead RNA-editing therapy, KRRO-110, aimed at treating alpha-1 antitrypsin deficiency (AATD), an inherited genetic disorder.
The stock does well on Momentum, and has a favorable price trend in the short, medium and long terms.
3. Centessa Pharmaceuticals PLC
UK-based Centessa Pharmaceuticals PLC
The stock witnessed a 48.75 point jump in its Momentum score, from 38.07 to 86.82, with a 42.85% spike over the past week alone.
According to Benzinga's Edge Stock Rankings, the stock scores high on Momentum, and has a favorable price trend in the short, medium and long terms.
