Market Overview

Tekmira Pharmaceuticals Corporation Shares End Summer On Wild Ride

Share:
Tekmira Pharmaceuticals Corporation Shares End Summer On Wild Ride

The stock market started off the week with a bang, just not the bang investors probably would’ve preferred.

The Dow Jones Industrial Average had its first back-to-back double-digit losses since June. The Russell 2000 had a bad three-day stretch, as well. However, there are always stocks that are bucking the trend for one reason or another.

A stock that rallied in the face of both the Monday and Tuesday sell-offs was Tekmira. The stock has been in the news as of late due to its TKM-Ebola product.

The Company: Tekmira Pharmaceuticals Corporation

Ticker Symbol: (NASDAQ: TKMR)

Sector: Health care

Industry: Biotechnology

Tekmira develops ribonucleic acid interference therapeutic product candidates as well as provides its lipid nanoparticle delivery technology to pharmaceutical partners in the Canada.

Related Link: These 3 Biotech Stocks Just Hit New Highs

The company's internal product development candidates include TKM-Ebola, an antiviral product, which is in Phase I of clinical trials for the treatment of the Zaire species of Ebola virus infection.

Take a look at the one-year chart of Tekmira, with added notations:

Tekmira has been very volatile over the last two months. The stock shot from its $9 low in June all the way to a $26 high in August. It then fell more than 25 percent.

The stock has now worked its way higher, all the way back to the previous $26 high.

There is the possibility of the prior $22 resistance acting as support on potential pullbacks.

The stock closed Tuesday at $24.30.

Posted in: Long Ideas Short Ideas Health Care Technicals Trading Ideas General Best of Benzinga