VRDN - Why These 2 Nasdaq Biotech Stocks Fell Hard Tuesday Morning
2023-07-11 09:26:40 ET
The Nasdaq Composite (NASDAQINDEX: ^IXIC) has performed extraordinarily well in 2023, getting off to its best first half of a year since the 1980s. Even though it has already recovered a lot of its lost ground from 2022's bear market, the Nasdaq has held up well even as the broader market has paused in the past couple of weeks. Stock index futures suggested the Nasdaq would post a modest rise Tuesday morning as well.
However, a couple of Nasdaq-listed stocks in the biotech space weren't as lucky. Both Viridian Therapeutics (NASDAQ: VRDN) and Iovance Biotherapeutics (NASDAQ: IOVA) posted double-digit-percentage declines in premarket trading on Tuesday morning, as each one had news to announce that made shareholders question the value of their shares. Here's the latest on Viridian and Iovance and what you should know in evaluating these two Nasdaq biotech stocks .
Shares of Viridian Pharmaceuticals were down 18% in premarket trading early Tuesday. The company released data from an early-stage clinical trial, and although there were some encouraging signs in the results, investors seemed unconvinced that the study was as positive as Viridian tried to represent.
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Why These 2 Nasdaq Biotech Stocks Fell Hard Tuesday Morning