NEW YORK, NY / ACCESSWIRE / September 6, 2018 / Major U.S. equities were mixed on Wednesday with tech stocks posting worst daily drop since July dragging Nasdaq lower. The Dow Jones Industrial Average was up 0.09 percent to close at 25,974.99, while the S&P 500 Index decreased 0.28 percent to close at 2,888.60. The Nasdaq Composite Index dropped 1.19 percent to close at 7,995.17.
“I don’t see any specific catalyst pushing tech lower, and it’s pretty quiet from the perspective of news about these stocks, which makes me think this is a classic sector rotation,” said managing director for trading at Evercore ISI, Douglas DePietro. “These groups have been outperforming, and this could be an example of investors taking profits, particularly since September is a historically turbulent month and a lot of big banks and brokerage houses have been encouraging their clients to lighten up on their tech exposure,” DePietro said.
RDI Initiates Coverage on:
Momenta Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=MNTA
Supernus Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=SUPN
Momenta Pharmaceuticals' stock jumped 3.95% Wednesday, to close the day at $26.95. The stock recorded a trading volume of 772,579 shares, which was above its three months average volume of 459,490 shares. In the last year, Momenta Pharmaceuticals' shares have traded in a range of 11.85 - 32.20. The share price has gained 127.64% from its 52 week low. The company's shares are currently trading above their 200-day moving average. The stock's 50-day moving average of $28.03 is above its 200-day moving average of $22.55. Shares of Momenta Pharmaceuticals have fallen roughly 5.17 percent in the past month and are up 93.41 percent year-to-date.
Access RDI's Momenta Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=MNTA
On Wednesday, shares of Supernus Pharmaceuticals recorded a trading volume of 743,136 shares, which was below the three months average volume of 779,215 shares. The stock ended the day 3.07% higher at $45.30. The share price has fallen 26.04% from its 52 week high with a 52 week trading range of 33.30 - 61.25. The company's shares are currently trading below their 200-day moving average. The stock's 50-day moving average of $48.66 is below its 200-day moving average of $49.20. Shares of the company are trading at a Price to Earnings ratio of 28.03. Shares of Supernus Pharmaceuticals have fallen roughly 14.12 percent in the past month and are up 13.68 percent year-to-date.
Access RDI's Supernus Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SUPN
Our Actionable Research on Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) and Supernus Pharmaceuticals, Inc. (NASDAQ:SUPN) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
https://www.accesswire.com/511451/Todays-Research-Reports-on-Trending-Tickers-Momenta-Pharmaceuticals-and-Supernus-Pharmaceuticals