Rxi Pharmaceuticals' shares continue to rise Print E-mail
By Staff and Wire Reports   
Thursday, 21 October 2010 09:06

Shares of RXi Pharmaceuticals Corporation (NASDAQ:RXII) continue to rise amid louder rumors about a yet to be signed partnership deal with Pfizer (NYSE:PFE).

The rumblings of that collaboration were first reported by BioMedReports when the stock was trading under $2.00 in early September. Since then the shares have risen to $3.57 +0.23; up 6.87% this morning on heavy volume.

Unusual volume of call and put contracts has been noted on the stock as well as a vast majority of speculators (over 30-1) are betting that shares of the company will continue higher.

According to Market Intellisearch, Put/Call ratio can be regarded as a predictor of investment sentiment, indicating what experienced investors are doing in preparation for a move of an underlying equity. A high Put/Call ratio suggests that the investor sentiment is bearish and that investors are expecting the underlying stock price to decrease. Unusual volume provides reliable clues that the stock is expected to make a move.

RXi Pharmaceuticals Corporation is owned in part by CytRx Corporation (NASDAQ:CYTR). RXII researchers have been pursuing therapeutics based on ribonucleic acid (RNA) interference (RNAi). RNAi therapeutic platform includes two components: Novel RNAi Compounds and Advanced Delivery Technologies. The Company has developed a number of forms of rxRNA compounds.

Stay tuned for further developments.

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