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Celladon shares jump on Wall Street

Shares in San Diego's Celladon Corp. (Nasdaq: CLDN) jumped more than 5 percent on Friday and nearly 4 percent by noon Eastern on Monday, continuing a trend that has seen the stock rise nearly 60 percent in the past month.

An article on The Street.com on Monday said Celladon, which went public in January, could be poised for "breakout trading" that could lead it from its current range around $15.50 to its highpoint above $17 that it hit in March, before a retrenchment in the biotech market.

Zacks Equity Research maintained a "hold" on the company, which focuses on treating heart failure, diabetes and neurodegenerative diseases, noting that Wall Street's expectations about its performance have remained unchanged. But it added that "the recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future."

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