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Why Altimmune, Foghorn Therapeutics, and Precigen Shares Crashed This Week

TheMotleyFool

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Why Altimmune, Foghorn Therapeutics, and Precigen Shares Crashed This Week: https://g.foolcdn.com/editorial/images/721127/bad-news-buy.jpg

After a promising start to 2023, clinical-stage biotech stocks reversed course this week. For example, shares of the developmental-stage biotechs Altimmune (NASDAQ: ALT), Foghorn Therapeutics (NASDAQ: FHTX), and Precigen (NASDAQ: PGEN) all dropped by double digits during the first three and half days of trading this week, according to data provided by S&P Global Market Intelligence.