RXi Pharmaceuticals Corp (NASDAQ: RXII) is having an incredibly strong day in the market today. While you won’t find any press releases issued this morning from the company, a release issued yesterday seems to give us clues as to why the stock is headed up. Today, we’ll talk about:
- Why RXII stock is up;
- what we’re seeing in the market; and
- what we’ll be watching for ahead.
Why RXII Stock Is Up
As mentioned above, RXi Pharmaceuticals is flying in the market today, but it hasn’t released any news that would correlate with the gains… at least this morning. I believe that the gains have to do with a release issued by the company yesterday, announcing the presentation of a poster. The poster, titled “The Use of Self-deriving RNAi to Enhance NK Cell Cytotoxicity,” was presented yesterday at the 16th Annual Discovery on Target Conference.
However, it’s important to remember that the conference isn’t over, and I believe that this has a lot to do with why RXII is headed up today. The reality is that these investor conferences aren’t just about presentations, they’re about networking, meeting investors, brokers and potential partners that can help a business grow. The data presented through the poster yesterday was positive. Now, the company has today and tomorrow to capitalize on that data by getting into the ears of important investors that have been captivated by that data. This could be what is sending RXII through the roof today.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of RXi Pharmaceuticals, the news is positive. Not only did the company present positive data to a room full of high end investors, it now has a captivated audience of investors that have the ability to help the company get to the next level. So, it comes as no surprise to see that the stock is making a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:21), RXII is trading at $1.70 per share after a gain of $0.43 per share or 33.46% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on RXII. In particular, we’re interested in following the story surrounding the company’s continued work to develop its RNAi platform. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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