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Category: Mid Day Movers

Here’s Why You Should Avoid iBio (IBIO) Stocks For COVID-19 Vaccine

All the companies involved in the production of the coronavirus vaccine, iBio is far behind from its competitors in the vaccine trial. The company has earlier revealed that it has selected IBIO-201, its LicKM-ubunit vaccine, as its leading candidate for the prevention of coronavirus infection. But the company has not provided any promising result related to its coronavirus vaccine candidate nor it entered into the human trial of its vaccine candidate.

iBio, a biotech innovator and biologics contract manufacturing organization has earlier made the various claims about its vaccine candidate. It has claimed exclusive worldwide license agreement on a cure called ACE2-Fc from Planet Biotechnology. Not only this, but the company also claimed that its FastPharming system has the ability to produce vaccines quickly using plant cells.

So, it is better to avoid iBio for the coronavirus vaccine until it catches up and moves its coronavirus vaccine candidate into human trials. Many companies including Moderna, Novavax, AstraZeneca, and Pfizer all are currently in human trials of their vaccine candidate. But iBio, Inc. is still in the lab and far behind from its competitors. To reach the market human trials are necessary.

Shares of iBio, Inc. (IBIO) traded up 9.30% as it gained +0.20 on Thursday. In the past 52-weeks of trading, this company’s stock has fluctuated between the low range of $0.05 and a high range of $7.45. iBio has moved up 4600.00% from its 52-weeks low and moved down -68.46% from its 52-weeks high. Looking at its profitability, its return on assets and investment is -108.70%, and -57.60%, respectively. If we turn our focus on its liquidity, its current ratio is 1.70. iBio, Inc. market capitalization has remained high, hitting $420.46 million at the time of writing.

There are various sciences behind iBio stock. If we look at the political stories, Donald Trump is looking for a vaccine before November. Similarly, from a business point of view, billions were given to the companies for the products which are not ready for the market yet. If we turn our focus on iBio, it only claims that it has a vaccine candidate but that is still in the lab.

It has not advanced it trial to humans which is necessary. iBio stocks soared after it revealed about the FastPharming. But it is not clear yet whether the company has a vaccine or not or it is the trick of the company to excite its stock. So, it is better to avoid the stock of iBio for the coronavirus vaccine until it starts a human trial.

September 18, 2020
Cardiff (NASDAQ: CRDF) Confirms Efficacy Of Onvansertib In Colorectal Cancer

Shares of Cardiff Oncology, Inc. (NASDAQ: CRDF) were traded up 39.59% after it announced that Onvansertib has shown the clinical benefit in colorectal cancer. The company has presented data of Ovansertib at the European Society of Medical Oncology Virtual Congress. Cardiff Oncology is currently engaged in the Phase 1b/2clinical trial of Ovansertib Metastatic KRAS-mutated Colorectal Cancer.

In the Phase, 1b/2 study the company has checked the safety and preliminary efficacy of onvansertib in combination with FOLFIRI and bevacizumab in second-line KRAS-mutated metastatic colorectal cancer. The Trial volunteers are treated with onvansertib on Days 1-5, and FOLFIRI and bevacizumab on Day 1, of 14-day treatment courses.

The company has disclosed that it has observed the benefit of treatment and during the treatment, the company saw no progression in the disease. The efficacy data gave the company a green signal to continue the trial.

Cardiff disclosed that 91% of patients have shown the positive result after receiving the treatment and only one patient progressing in less than six months while on treatment. 5 (45%) patients have attained partial response (PR). 73% of the patients have shown durable responses ranging from 6 to >12 months and 4 patients remain on treatment. Onvansertib in combination with FOLFIRI/bevacizumab is safe and well-tolerated.

The first two onvansertib dose levels (12 and 15 mg/m²) have got the green signal. Additionally, four patients have received the onvansertib dose level of (18 mg/m²) and two more will be enrolled.

Cardiff Oncology, Inc. (NASDAQ: CRDF) shares were trading up 339.59% at $8.11 at the time of writing on Thursday. Cardiff Oncology, Inc. (CRDF) share price went from a low point around $0.70 to briefly over $8.29 in the past 52 weeks. It has moved up 1056.92% from its 52-weeks low and moved down -2.17% from its 52-weeks high. Cardiff Oncology, Inc.’s market cap has remained high, hitting $197.48 million at the time of writing.

September 18, 2020
Scientific Games Corporation [SGMS] Rallies after the Entry of Strategic Investors

Scientific Games Corporation [NASDAQ: SGMS] is one of the biggest gainers this afternoon and is up by over 40%. This follows the company’s announcement that MacAndrews & Forbes were selling 34.9% in the company to a group of institutional investors.

They are selling the stake at $28 a share. On top of that, the company announced that it was reorganizing its board of directors in a move that would see the inclusion of Jamie Odell and Toni Korsanos as executive chairman and the executive vice-chairman respectively.

The excitement around this stock comes from the nature of the buyers for the MacAndrew & Forbes shares. The company announced that the stake was being sold to gambling industry investors that include Caledonia. This has a number of positive implications:

Expertise

By bringing in institutional investors that have expertise in gambling, the company can leverage this to grow its market share, and revenues. This could see investors keep bidding up the stock up in the near-term, in anticipation of a jump in price.

In the long run, the expertise and market experience of the institutional investors are likely to drive up the company’s intrinsic value. The company has already stated that it would use the deal to start the implementation of a transformative strategy that would see it grow shareholder value in the long run.

The capital to grow its market

The company has stated that part of its strategy is to focus on digital gaming, and sports betting. The company is aware that these lucrative markets are dominated by DraftKings and FanDuel. As such, it aims to take aggressive measures to penetrate this market.

This requires both money and social capital, and the company will benefit from the monetary and social capital of the institutional investors to get into this market. Given how lucrative the sports gaming market is, the company’s long term value stands to grow. In the short-term, the company also stands to benefit as investors take positions in anticipation of the company’s intrinsic value in the long run.

With all these factors at play, this stock is uniquely positioned to grow in value. Externally, the value of this stock could benefit from the discovery of a COVID-19 vaccine, as it would drive up the entire market. It would also lead to a jump in consumer spending, which is key to driving up consumption.

About Scientific Games Corporation

Scientific Games Corporation is a gaming technology company. It makes electronic gaming machines, and server gaming systems.

September 15, 2020
Why IBIO Inc [IBIO] is the Best Covid-19 Vaccine Stock to Bet On

IBIO Inc [NYSE: IBIO] is trading on a monthly support level, and it seems to be holding up quite well. One factor that could trigger a run in this stock is the discovery of a viable COVID-19 vaccine. Yesterday, the company announced that it had settled on its most viable COVID-19 vaccine.

The company announced that while it had two vaccine candidates named IBIO-200 and IBIO-201, it was going forward with IBIO-201. The company stated that both candidates did well in pre-clinical studies on the production of antibodies for fighting the virus.

However, it also discovered that IBIO-201 did better in terms of producing more antibodies than IBIO-200, making it a more viable candidate. Nonetheless, the company stated that it would continue pre-clinical development for IBIO-200 and see where it goes.

Commenting on these developments, CEO Tom Isett stated that the decision to observe the two vaccines together was beneficial as it helped the company to settle on IBIO-201 as the most viable candidate. He added that the company would now go ahead with the toxicology studies on this vaccine candidate and also conduct clinical development on the same. On IBIO-200^,the CEO stated that pre-clinical development would go on, and would use it as a potential plug-and-play vaccine system.

What next for IBIO

With the company’s vaccine candidate showing potential, the company is in a unique position in the race for a vaccine. That’s because timing will be critical for companies to profit from a COVID-19 vaccine. Companies that will be among the first to release a vaccine are likely to win the majority of the orders. So far, IBIO is among those in the lead for a vaccine.

A few days ago, the Oxford-led vaccine was paused due to adverse effects on some test subjects. This means that IBIO is still within the right timelines for potential COVID-19 vaccines. If it makes a breakthrough anytime soon, the stock could see an exponential surge in value.

There is also the fact that the company is small-cap compared to the much bigger companies that are working on a vaccine. This means that if the company’s vaccine is approved, it would have a much bigger leeway for growth compared to companies that already have large market caps. It also means that if it releases a vaccine at the same time as a large-cap, it would have a better chance of exponential gains.

About IBIO Inc

IBio is a biotech company that offers manufacturing services for clients and 3^rd party companies. It is based in New York, New York.

September 10, 2020
Hall Of Fame Resort (NASDAQ: HOFV) Hires Erica Muhleman As Executive Vice President

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) has chosen Erica Muhleman as its executive vice president of New Business Development/Marketing and Sales. Ms. Erica has a deep knowledge of sports. Erica Muhleman is a strong addition to the Hall of Fame Resort’s team because she has a strong background in sports.

Erica has recently affiliated with HOFV after serving in Pegula Sports and entertainment as Executive VP of business development for the company. Ms. Muhleman has worked on various initiatives there and also organized profitable activities.

Before joining Pegula Sports she has also worked as VP of Corporate Partnerships for the Buffalo Bills. She has not only managed the multi-million dollar sponsorship but also paly a very important role in relation to corporate partners. Previously, she served as an account director in IMG. In IMG her duty is to control the company’s annual multi-million dollar budget.

If we look at her educational background, Ms. Muhleman completed her Master of Arts in Marketing from Cleveland State University, & her Bachelor of Arts in Psychology from Ohio University.

Shares of Hall of Fame & Entertainment Company traded up 22.40% as it gains +0.84 on Wednesday. It has a closing price of $4.59. In the past 52-weeks of trading, this company’s stock has fluctuated between the low of $3.58 and a high of $12.31. It has traded up 28.22% from its 52-weeks low and traded down -62.71% from its 52-weeks high. Looking at its liquidity, this firm has a current ratio of 0.20. Hall of Fame and Entertainment Company market cap has remained high, hitting 151.75 million.

Ms. Erica has earlier-directly worked with large companies leadership executive and business partners including National Basketball Association (NBA), Professional Golf Association (PGA), National Football League (NFL), & the National Women’s Hockey League (NWHL).

September 10, 2020
Intra-Cellular Therapies [ITCI] Rallies on positive news on depression treatment

The markets are up this afternoon after days in the red. Most stocks are up, and some like Intra-Cellular Therapies [NASDAQ: ITCI] are recording exponential gains. This stock is currently up by over 60% and gaining. This bullish breakout has seen the stock reverse all the losses it incurred over the past 3 months, and if it holds, could see the stock enter a new bull rally.

Today’s breakout comes after the company announced that it had got positive results from its study that was analyzing Lumateperone when used as adjunctive therapy in people suffering from bipolar depression. Delving into the details of the deal, the company stated that 42 mg of Lumeteperone had shown primary results that are statistically significant, and that it also met its secondary endpoints.

The company added that it was expecting to submit an SNDA (supplementary new drug application) for it to the FDA later this year or in early 2021. The company added that the study had returned an acceptable safety and tolerability profile that was fully in line with the company’s other trials on the treatment. The company further stated that all side effects including the rate of akathisia, changes in weight, extrapyramidal symptoms and restlessness were all the same as the placebo.

Commenting on the development, CEO Dr Sharon Mates stated that the program had confirmatory evidence of efficacy and that it had positive safety and tolerance in people with bipolar depression. He added that with the achievement of this clinical milestone, the treatment had the potential to improve the lives of people suffering from a wide array of mental health conditions, including schizophrenia.

What next?

With the progress that it has made with this treatment, the stock is well-positioned to grow in the near-term for several reasons. First, on the expectation of growth as the treatment gets closer to going to market, investors are likely to keep bidding up the stock. Secondly, the stock could see its value grow long-term if this treatment goes through the various steps and is approved by the FDA. That’s because it would significantly add to its bottom-line. This increase in intrinsic value would see the stock keep gaining in the near-term.

The stock also stands to gain from the increased upside momentum in the market. As markets rise, stocks with strong fundamentals stand to outperform the market.

About Intra-Cellular Therapies Inc

Intra-Cellular Therapies Inc is a biotech company that makes new treatments for neurological diseases. It is based in New York, New York.

September 9, 2020
Twitter Inc (NYSE: TWTR) Roll Out New Update For Trending Section

Twitter Inc. (NYSE: TWTR) continuously taking steps to make Twitter accessible to everyone. The trend section on Twitter showed what is happening in the world and what people are talking about right now. But the trend section was a bit confusing as too often we saw a word or phrase trending on Twitter and many people starting question why this is trending? That question was tweeted many times on Twitter.

So, Twitter is striving to make the trending section less confusing. Twitter has disclosed last week that it has planned to add more data to the trends section. Twitter has decided to add pinned tweets & explanations on trends to explain why something is trending. This step makes it easier for the user to know what is happening in the world and why the word or a phrase is trending.

Today, Twitter has disclosed that it has decided to add improved headlines and a short explanation to some Trends, so the users will be able to know why something’s trending when the user is in the Explore tab. If we look at the example of this new update, sometimes we saw the name of a singer is trending on Twitter but we don’t know what happened. To know about the news users scrolled down the tweets and got a vague idea of what is actually happening.

But after this update, if we look at today’s trends ‘Nobel Peace Prize’ is trending no.1 right now. TWTR now describes by the way of headline and short summary that the ‘Nobel Peace Prize’ is trending because Norwegian parliamentarian has nominated Donald Trump for the 2021 Nobel Peace Prize. That’s helpful and prevents users from scrolling down the tweets to now the information about the word which is trending.

Shares of Twitter Inc. (NYSE: TWTR) traded down 4.21% after it lost -1.68 during the trading session of Tuesday. It has a closing price of $38.19. In the past 52-weeks of trading, the stock of Twitter has fluctuated between the low of $20.00 and a high of $45.85. It has traded up 90.95% from its 52-weeks low and traded down -16.72% from its 52-weeks high. Looking at its liquidity, it has a current ratio of 10.10. The market capitalization of Twitter has remained high, hitting $31.54 billion at the time of writing.

But unfortunately, after releasing the update for the Trends section Twitter is still lacking in its ability to fully explain all of its trends. There are various trends that are still without any explanation. If we look at the trending section there are many trends such as ‘Kuzma’ Clackamas’ and ‘Rey Nobody’ are trending without any description. Similarly, the trends which are led with a hashtag are also without description.

But Twitter has earlier disclosed that its curation team is working on the new update. It has also stated that the company knows there is more work to do to enhance trends and the context updates they announced. This new update is just a small step in the right direction.

September 9, 2020
Why Co-Diagnostics Inc (CODX) Stock Bullish Reversal Could Mark the Start of a New Uptrend

Its good day for Co-Diagnostics Inc [NASDAQ:CODX] investors. After several months in the red, the stock has rocketed today and is currently up by 31%. The rally follows the company’s announcement that it had made an agreement with Arches Research Inc for the expansion of Arche’s COVID-19 testing services. This will be implemented using Co-Diagnostics’ test kit called Logix Smart.

The deal is a continuation of a relationship that started earlier in the year when Arches Research began using the Co-Diagnostics kits for testing. The signing of the deal comes just days after a 3^rd party study on the kits concluded that their performance was good and that they could be used in smoothening out the process of reopening workplaces, schools, and other amenities.

Commenting on the agreement, Co-Diagnostics CEO Dwight Egan stated that they were happy with the expanded relationship with one of the company’s most valued lab clients. He added that they were optimistic that the expanded relationship would open new opportunities to sell not just test kits, but other diagnostic products that the company was working on. Some of the products that it has under development include the upcoming Logix Smart Flu A/ Flu B and COVID-19 kits.

What next?

With this deal in place, this stock’s current bullish reversal could mark the start of a new uptrend. That’s because, with the expanded deal, the company’s revenues will grow in coming quarters. This will mean a higher intrinsic value for the company and by extension its price. On top of that, investors anticipating stronger earnings in the near-term are likely to keep bidding up the stock price in the near-term. This is already happening as can be seen in the sustained increase in price since the company announced the expanded deal.

There is also the fact that with the 3^rd party validation of the company’s test kits, other companies and even governments are likely to start making their orders for its COVID-19 test kits. That’s because, while the world is awaiting a vaccine, testing remains the most effective way to fully get the economy working optimally again in the near-term. It is through testing that establishments that deal with lots of people can reopen safely, by isolating those who have COVID-19 from the rest of society. Testing also presents an opportunity for governments to understand the patterns of the disease and model it for policy decision-making on COVID-19.

About Co-Diagnostics Inc

Co-Diagnostics Inc is a molecular diagnostics corporation. It is based in Salt Lake, Utah.

September 8, 2020
Why PolyMet Mining Corp [PLM] is Rallying as Markets Correct

PolyMet Mining Corp [NYSE: PLM] is braving the market sell-off this afternoon and is up by over 70% at the time of writing. The stock’s momentum is driven by a confluence of positive factors around it. The latest of this news is with regards to the company’s clearance by a court in a case involving its adherence to procedure.

Yesterday, a judge in the Ramsey District Court ruled that the Minnesota Pollution Control Agency did not err in the procedure when it processed the National Pollutant Discharge Elimination System permit for a precious metals, copper and nickel project that is run by a subsidiary of PolyMet Mining Corp.

The judge rejected in totality allegations that the MPCA took steps to keep evidence from its administrative records. Commenting on the development, PolyMet President and CEO stated that the company was happy with the ruling of the District Court.

He added that the company was confident that the permit and applicable standards will be upheld by the courts. This is a big deal for the company as it looks forward to a favourable ruling on a Minnesota Supreme Court to give the company its permits on mining, air quality, and dam safety.

Oral arguments on the permits will be heard in October 2020. Given that this permits touch directly on the company’s operations, there is a good chance that it will lead to an increase in the company’s revenues. It is for this reason that investors are bidding up the price in anticipation of a price appreciation in the near-term.

The news comes just a few days after the company did a 1 to 10 reverse stock split. On the 26^th of August, 2020, the company announced that the split would drop the number of common shares from 1,006, 997, 495 to 100,699, 749 shares. The reverse share split has added to the stock’s momentum at the moment.

The above factors have also created FOMO around the stock as other stocks sink in the red. As investor chase gains and try to recover losses in other stocks, they could keep bidding up the stock and see it close the day as one of the top stock’s biggest in the week This coupled with the company’s fundamentals could see it start next week on a high note.

About PolyMet Mining Corp

PolyMet Mining Corp develops natural resources with a focus on precious metals and other minerals. It is headquartered in Toronto, Canada.

September 7, 2020
Flying Eagle Acquisition Corp [FEAC] Rallies on Massive Esports Merger Deal

Flying Eagle Acquisition Corp [NYSE: FEAC] is a top perfumer this afternoon and is up by 19% at the time of writing. The stock’s upside momentum is driven by news that the company was taking mobile gaming platform Skillz, public. In a statement, Skillz has said that it was merging with Flying Eagle Acquisition Corp, a special purpose vehicle for mergers and acquisitions. Under the deal, Skillz Inc will go public at a valuation of $3.5 billion, representing 6.3 times the estimated value of the company’s 2022 revenues. The move to take Skillz public is a big deal for a number of reasons.

First, Skillz is the first mobile Esports Company to go public. This will see it draw interest from investors looking for a share of the first growing mobile gaming market. The business already has attributes that make it a high potential stock. For starters, it already has investment commitments totalling to over $250 million. Some of the big investors that have committed themselves to the company include Wellington, Franklin Templeton, Fidelity and Neuberger Berman.

. On top of that, the company is operating in a high growth market. It is projected the company will have a compound annual growth rate of 57% from 2020 to 2022, and its revenues for 2022 are projected to hit $555 million. However, the most important factor to the deal is that the company is retaining the persons behind its success so far.

As part of the merger deal, the company will retain both its CEO Andrew Paradise who is also a founder, and Casey Chafkin who is the company’s CRO and founder. By retaining its top brains, the company is uniquely positioned to sustain the momentum that it started while still trading as a private company. For context on how good the team is, it has managed to grow the company to become one of the largest and most important players in the mobile gaming space.

Commenting on the merger deal, Flying Eagle CEO Harry E. Sloan stated that he had been active in the gaming industry for over 20 years and had seen it evolve to what is today. He added that he firmly believed Skillz was well-positioned to be the future of gaming. His views were echoed by Skillz CEO who stated that the company was in a good position to capture the worldwide esports market.

With such a high-value company under its fold, Flying Eagle is well-positioned to record stock value growth in the near-term.

About Flying Eagle Acquisition Corp

Flying Eagle Acquisition Corp effects mergers and asset acquisitions and corporate reorganization. It is based in Los Angeles, California.

September 2, 2020