ALLO - ChemoCentryx Allogene Show the Risks and Rewards of Nasdaq Biotech Stocks
The stock market posted mixed results on Friday morning, as investors continued to wrestle with countervailing factors in making their investment decisions. As of 11:45 a.m. EDT, the Nasdaq Composite (NASDAQINDEX: ^IXIC) was trailing other major benchmarks, falling about a quarter percent.
The biotech industry is well represented on the Nasdaq, and it can be a high-risk, high-reward industry for investors. Good news can send a biotech stock soaring, while disappointment can crush share prices. Today, the Nasdaq provided two great examples of how that can play out, as ChemoCentryx (NASDAQ: CCXI) and Allogene Therapeutics (NASDAQ: ALLO) revealed both sides of the coin. Below, we'll look more closely at what happened with these two stocks.
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ChemoCentryx, Allogene Show the Risks and Rewards of Nasdaq Biotech Stocks