Biotech Stocks to Watch Veracyte Inc. (NASDAQ VCYT) & RXi Corp (NASDAQ RXII)

PRAN NASDAQ PRAN Prana Biotechnology

Off late, Biotech stocks have seen some volatility. Here we look at two promising stocks: Veracyte Inc. (NASDAQ VCYT) & RXi Corp (NASDAQ RXII). Both had some major announcements to be made in the past month and the stocks have since shown some very positive upside.

Veracyte Inc (NASDAQ VCYT) a molecular diagnostics company pioneering the field of molecular cytology, on 3 July announced that two Blue Cross Blue Shield (BCBS)–affiliated organizations, Highmark Inc. and Horizon Blue Cross Blue Shield of New Jersey, have issued positive coverage policies for the company’s Afirma® Gene Expression Classifier (GEC). This announcement was taken positively by the stock market.

RXi Pharmaceuticals Corporation (NASDAQ RXII), a biotechnology company focused on discovering, developing, and commercializing innovative therapies addressing major unmet medical needs using RNA-targeted technologies, on 2 July announced the opening of its new office and laboratory in the Marlborough Technology Center located in Marlborough, Massachusetts.

Veracyte Inc. (NASDAQ VCYT) & RXi Pharmaceuticals Corporation (NASDAQ RXII)

RXi Pharmaceuticals Corp (NASDAQ RXII) in last trading activity ended up at $2.95 with day range of $2.80 – $3.00. Company weekly performance is -3.28% while its quarterly performance stands at -30.09%. RXi Pharmaceuticals Corp (NASDAQ RXII) is -56.87% away from its 52 week high.

On last trading day Veracyte Inc (NASDAQ VCYT) ended up -2.67%lower to close at $16.02 while trading in the range of $15.67 – $17.37. Its return on assets (ROA) is -50.10% while return on investment (ROI) is -37.80%. Veracyte Inc. (NASDAQ VCYT) monthly performance is 11.87%.

Veracyte Inc. (NASDAQ VCYT) & RXi Pharmaceuticals Corporation (NASDAQ RXII) News Video

Watch this video for more “Veracyte Inc (NASDAQ VCYT) & RXi Pharmaceuticals Corporation (NASDAQ RXII) Biotech” news.

Veracyte Inc (NASDAQ VCYT) & RXi Pharmaceuticals Corporation (NASDAQ RXII) Financial News

Both Veracyte Inc (NASDAQ VCYT) & RXi Pharmaceuticals Corporation (NASDAQ RXII) may have a promising run down the road. However, it may not be so prudent to invest in them right now. Given the volatility in the stock market, it has been advised in many reports to wait for investing at the proper time.

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