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Among the recent momentum standouts in the biotechnology sector, four stocks have drawn considerable investor attention, entering the top 10th percentile of momentum-ranked stocks based on decisive week-on-week percentile gains.
Backed by strong technical indicators and sector tailwinds, Aldeyra Therapeutics Inc. (NASDAQ:ALDX), Alector Inc. (NASDAQ:ALEC), Black Diamond Therapeutics Inc. (NASDAQ:BDTX), and Coherus Oncology Inc. (NASDAQ:CHRS) exemplify shifts in risk appetite favoring momentum-heavy biotech plays.
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Benzinga Edge Stock Rankings‘ momentum percentile metric evaluates each stock's price movement and volatility over multiple timeframes, with positions determined by performance relative to the entire market. A meteoric increase in this percentile not only suggests recent outsized price action but also reflects systematic strength when measured against scores of competitors.
On Thursday, the S&P 500 index ended 0.28% lower at 6,735.11, whereas the Nasdaq 100 index declined 0.15% to 25,098.18. Dow Jones also tumbled 0.52% to 46,358.42.
The futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were trading higher on Friday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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