Following were the major microcap losers in the biotech sector on Wednesday. Keep these stocks on your radar this week.
Progenity, Inc (NASDAQ:PROG) was one of the notable losers in Wednesday’s trading session with a fall of 23.43% to close at $2.19. The stock saw total volume of over 3.45 million shares exchanged hands, well above its average volume of 482K shares. The company announced a transformation strategy that will focus the company primarily on its robust R&D pipeline and better position the business for future growth. The stock is trading 86% below its 52-week high and 4% higher from its 52-week low.
Pieris Pharmaceuticals, Inc (NASDAQ:PIRS) was under pressure on Wednesday as the stock decreased 5.36% to $3.18. After opening at $3.25, the stock has moved within a wide range of $3.0900 – 3.2800. The stock has gained 27% so far in 2021, but down 16% over the past week. Last week, the stock more than doubled in a session after the biotech said it entered a drug-development agreement with Roche’s RHHBY Genentech.
Under the agreement the Boston company and the subsidiary of the Swiss health-care giant will discover, develop and commercialize respiratory and ophthalmology therapies. The venture will use Pieris’s Anticalin technology platform.
Corbus Pharmaceuticals Holdings, Inc (NASDAQ:CRBP) continues to be in downtrend as the stock has seen a major pullback after the recent strong rally. . The stock was down 4.40% at $1.96 on Wednesday. The stock has soared almost 61% over the past six months. Earlier this week, the company announced licensing deals for two new monoclonal antibodies (mAbs), CRB-601 and CRB-602, that target integrins to inhibit activation of transforming growth factor β (TGFβ).
