These Nasdaq Biotech Stocks Doubled in 2020. Here's Why They're Soaring on Friday

The Nasdaq Composite (NASDAQINDEX: ^IXIC) has been doing very well in recent months, rising to set dozens of new record closing highs. On Friday, Nasdaq investors decided it was time for a pause, as the benchmark fell about half a percent just before 3 p.m. EST.

However, some individual Nasdaq stocks managed to post huge gains on Friday. In the biotech industry, Sorrento Therapeutics (NASDAQ: SRNE) and Bionano Genomics (NASDAQ: BNGO) both more than doubled shareholders' money in 2020. But they haven't let up steam, and they're looking to build on their past stock-price appreciation and deliver more profits for their investors. Indeed, one of those stocks has already doubled again in 2021 because of Friday's big rise.