A wider range of stocks have been gaining traction lately as major indexes push toward record highs. The SPDR S&P Biotech ETF is up more than 40% over the past six months and is on the verge of breaking out. Here's a look at several momentum standouts in the biotech space that appear to be rapidly gaining strength.

Biotech Stocks Building Momentum

Benzinga’s Edge Stock Rankings system scores stocks across key measures including momentum, growth, value and quality. The momentum score serves as a key indicator for traders looking to capitalize on short-term trends and potential price continuations.

Spotting shifts in momentum early can help traders anticipate broader moves in stock direction. Over the past week, Benzinga's rankings system highlighted four stocks that have seen notable increases in bullish momentum.

Aldeyra Therapeutics, Inc. ( ALDX ) posted the sharpest week-over-week increase in momentum score, surging from 24.27 on Sept. 29 to 90.37 currently. The stock is trading at $5.53, slightly above its 50-day moving average of $5.36, according to Benzinga Pro data.

Applied Therapeutics, Inc. ( APLT ) recorded the second-largest increase in momentum score, climbing from 8.12 last week to 71.79 currently. Applied, a biotechnology company focused on rare diseases, is trading at $1.13, well above its 50-day moving average of 52 cents. Shares have surged nearly 90% over the past week and are up more than 150% over the past month.

Bicara Therapeutics, Inc. ( BCAX ) recorded the third-largest increase in momentum score this week, rising from 13.63 on Sept. 29 to 72.59 at last check. Bicara is a biotechnology company focused on solid tumor cancers. Bicara shares are trading well above their 50-day moving average of $11.95. The stock is up nearly 15% this week and about 50% over the past month.

Neurogene Inc. ( NGNE ) saw the smallest momentum gain among the group, but still made a big week-over-week leap, climbing from 28.48 to 87.03. Neurogene ( NGNE ) shares are trading above their 50-day moving average of $19.65, suggesting momentum could continue in the short team.

Price Action: At the time of writing, Aldeyra shares are trading 0.27% higher at $5.53, Applied shares are trading 11.27% higher at $1.13, Bicara shares are trading 0.11% higher at $18.05 and Neurogene ( NGNE ) stock is trading 0.45% higher at $23.19, according to data from Benzinga Pro.

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