NewLink Genetics Follows Through On Thursday's Rally After Upgrade

NewLink Genetics Corp NLNK shares are trading higher by $4.65, or 35 percent, at $18.25 in Friday's session.

This comes on top of Thursday's gain of just over $6.00 ($7.79 to $13.60), off positive updates for Indoximod Plus Keytruda for the treatment of advanced Melanoma. Adding to the upward momentum is an upgrade at Jefferies, which changed its rating from Hold to Buy.

After a higher open, NewLink retreated but found support just under Thursday's close ($13.60) at $13.51 and resumed its move higher. So far, the ensuing rally took the stock to $19.30, but has fallen back to the $18.00 area.

That high coincides with a series of highs in the lower to middle $19.00 handle from mid to late April.