The sizzle of hot stocks

The sizzle of hot stocks

The genomics group has traded up significantly since the percolation began in mid-September, when several analysts upped their ratings on bellwether Human Genome Sciences (see Ebb & Flow, Sept. 13). Since then, both HGSI and Millennium (MLNM) have run from the mid $70s to well above $100 per share. MLNM closed Friday at $106.50, while HGSI closed at $129.313. MYGN has more than doubled since mid-September from $14 to $35.

Rat pack

The custom antibody group wasn't far behind the genomics crowd, as a CNBC interview with Abgenix (ABGX) CEO Scott Greer served as a momentum event for ABGX and other antibody developers Medarex (MEDX) and Protein Design Labs (PDLI). ABGX rose $17.50 to $77.625 on 1.1 million shares on Thursday as Greer discussed ABGX's deep XenoMouse partnerships. MEDX added $3.438 to $15.25 on 3.3 million shares on the day, and PDLI added $8.875 to $49.875 on 1.1 million shares.

ABGX, which announced antibody deals with HGSI and Chiron(CHIR), closed Friday at $78.50, up $26.75 (52 percent) on the week (see Noteworthy, A5). MEDX was up $6.063 (54 percent) to $17.25 on the week, while and PDLI closed Friday at $48.438, up $7.75 (19 percent) on the week.

Percolating, if not sizzling

Genomics play Sequenomand heat shock protein developer Antigenicsadded their names to the NASDAQ brew pot, with Sequenom hoping to raise up to $70 million, and Antigenics seeking up to $46 million. The companies hope to sell into the recent

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