The biotechnology industry develops drugs and diagnostic tools to treat illnesses and medical conditions.
It usually takes Biotech products days and months of research and money to obtain FDA (Food and Drug Administration) approval. Before investors can know if a drug under development is profitable, it may take years.
Biotechnology, however, is seen as being at its golden age as advances in science allow treatment and prevention of diseases in ways we never imagined before. Consequently, equity investors could find a variety of opportunities in the biotechnology sector to buy biotech stocks. In addition to creating top tier drugs, biotech companies generally also have strong drug candidates. COVID-19 has also created a plethora of opportunities for biotech firms developing treatments and vaccines for it.
Several start-up companies and large corporations are involved in this industry, which develops a wide range of medicines and related technologies.
Minerva Neurosciences Inc. (NASDAQ: NERV) started the day on 08/11/21, with a price increase of 6.29% at $1.69. During the day, the stock rose to $1.76 and sunk to $1.56 before settling in for the price of $1.69 at the close. Taking a more long-term approach, NERV posted a 52-week range of $1.54-$4.11.
Although the stock has performed remarkably well in recent months, the overall interest from investors has dropped noticeably. That has seen its trading volume slump by -30.06%, figures that rank poorly compared to the stock’s average volumes. This information is critical as it reflects the stocks’ float size, given that the market is exposed to 41.21 million shares of the company.
Histogen Inc. (NASDAQ: HSTO) is currently trading at around $0.92, a price level that means its value has jumped 22.83% higher than its 52-week low. In intraday trading, HSTO shares have hit a high of $0.93 and a low of $0.8519. The last 52 weeks have seen the company’s shares touched a high of $2.95 and a low of $0.75, while the recent trading session has witnessed an intraday change of just 6.16%.
Stock traders are taking a renewed look at shares of Histogen Inc.. This stock’s current 14-day RSI is standing at 55.53%, with a 9-day RSI of 64.12%, and a 20-day RSI of 51.27%. The RSI, which stands for Relative Strength Index, is a widely-used oscillating indicator trusted by investors and traders alike. The RSI works within a range-bound space with values on a scale from 0 to 100. When the RSI line rises, the shares may be showing strength. The contrary is the case when the RSI line starts to fall. When using the RSI indicator, different time periods may be looked at. When using a shorter time frame, the RSI might be more volatile. A lot of traders keep their focus between the 30 and 70 marks on the RSI scale. A shift higher than 70 is widely considered to demonstrate that the stock has entered the overbought territory. Meanwhile, a drop below 30 indicates that it may be in oversold territory. Traders often use these levels to predict stock price reversals.